Closing Bell: IMF deposits fail to pump investor confidence

Jul 10, 2019 (MNL): The rise and fall of local equity markets has been stopped dead in its tracks for the second consecutive day as the benchmark KSE – 100 index observed dull activity throughout the day and landed in consolidation by the end of it, due to lack of triggers.

Despite disbursement of the first tranche of $991 million from IMF, the market participants failed to uphold the short-lived upward momentum exhibited during the initial minutes of the day.

The Benchmark KSE100 index ended the trading session with a 15 point decline to close at 33,840.

The Index traded in a range of 157 points or 0.47 percent of previous close, showing an intraday high of 33,954 and a low of 33,796.

Of the 86 traded companies in the KSE100 Index 40 closed up 43 closed down, while 3 remained unchanged. Total volume traded for the index was 25.85 million shares.

Sector wise, the index was let down by Power Generation & Distribution with 15 points, Oil & Gas Exploration Companies with 12 points and Automobile Assembler with 9 points.

The most points taken off the index was by HUBC which stripped the index of 19 points followed by EFERT with 11 points and PPL with 7 points.

On the other hand, sectors propping up the index were Cement with 16 points and Oil & Gas Marketing Companies with 13 points.

The most points added to the index was by SNGP which contributed 12 points followed by HBL with 12 points and ENGRO with 11 points.

Meanwhile, the KSE All Share Volume decreased by 19.55 Million to 40.61 Million Shares and the Market Cap decreased by Rs.2.95 Billion.

Total companies traded were 301 compared to 303 from the previous session. Of the scrips traded 118 closed up, 163 closed down while 20 remained unchanged.

Total trades decreased by 10,806 to 19,105 while the value Traded decreased by 0.79 Billion to Rs.1.64 Billion

CompanyVolume

Top Ten by Volume

Dost Steels3,497,000
Quice Food Industries2,533,500
Maple Leaf Cement Factory2,483,000
Sui Northern Gas Pipelines1,811,000
Cherat Cement Company1,522,500
Lotte Chemical Pakistan1,399,500
TRG Pakistan1,338,000
K-Electric1,203,500
Unity Foods1,158,500
D.G. Khan Cement Company1,102,500
SectorVolume

Top Sector by Volume

Cement7,749,100
Engineering5,038,000
Commercial Banks4,525,500
Oil & Gas Marketing Companies3,615,100
Chemical3,455,460
Food & Personal Care Products3,079,020
Technology & Communication2,404,500
Power Generation & Distribution1,478,000
Textile Composite1,232,350
Vanaspati & Allied Industries1,158,500

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Posted on: 2019-07-10T17:53:00+05:00

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