Closing Bell: Here goes the tug of war

Aug 01, 2019 (MNL): Following a brief stay in green district on Wednesday, the KSE-100 reverted to its comfort zone after losing 99 points and closing at 31,839-mark.

The market was led down by uncertainty revolving around Chairman Senate’s election, wherein the Senate rejected the no-confidence resolution moved by the Opposition members against the current Chairman Sadiq Sanjrani.

The Index traded in a range of 279.69 points or 0.88 percent of previous close, showing an intraday high of 32,060.58 and a low of 31,780.89.

Of the 94 traded companies in the KSE100 Index 30 closed up 58 closed down, while 6 remained unchanged. Total volume traded for the index was 55.15 million shares.

Sector wise, the index was let down by Commercial Banks with 38 points, Oil & Gas Exploration Companies with 15 points, Power Generation & Distribution with 14 points, Food & Personal Care Products with 13 points and Pharmaceuticals with 11 points.

The most points taken off the index was by PPL which stripped the index of 25 points followed by MCB with 18 points, BAHL with 15 points, FFC with 11 points and NESTLE with 10 points.

Sectors propping up the index were Paper & Board with 8 points, Cement with 8 points, Engineering with 6 points, Automobile Assembler with 3 points and Sugar & Allied Industries with 2 points.

The most points added to the index was by FCCL which contributed 11 points followed by POL with 9 points, PKGS with 8 points, APL with 5 points and FATIMA with 5 points.

All Share Volume increased by 0.43 Million to 70.66 Million Shares. Market Cap decreased by Rs.19.16 Billion.

Total companies traded were 344 compared to 343 from the previous session. Of the scrips traded 126 closed up, 195 closed down while 23 remained unchanged.

Total trades increased by 1,805 to 33,635.

Value Traded decreased by 0.62 Billion to Rs.2.01 Billion

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