Closing Bell: Investors heave a sigh of relief

March 31, 2020 (MLN): The domestic equity market which was being the victim of COVID-19 pandemic since a couple of weeks, ultimately recouped well today as it gained 1,208 points or up by 4.31% from yesterday’s session to close the month at 29,231 points level.

During the month, the stock market witnessed several halts as bearish sentiments among investors continued to reign despite government’s Rs 1 trillion stimulus package to minimize the impact of economic slump on businesses and masses, letting the benchmark KSE-100 index to loose huge 8,752 points or down by 23.4% as compared to the previous month.  

In addition to this, SBP also slashed policy rate by 225 bps in two rounds but the mounting fears of virus spread overshadowed the impact of these developments as investors remained pessimist.

Last but not the least, the outflow of foreign currency by foreign investors from Pakistan’s debt market and equity market during the month contributed further to stock market bang.

This dismal performance of the equity market led the market capitalization to drop by Rs.1.47 trillion or 21% from Rs. 7.09 trillion to Rs. 5.62 trillion. In dollar terms, the Market Cap nosedived by USD 12.28 Billion or 26% MoM from USD 46,000,317,652 in February to USD 33,718,153,315 in March.

The sectors that contributed in destabilizing the index during the month were Commercial Banks (-3,029 points), Oil and Gas Exploration Companies (-1,583 points), Power Generation & Distribution Companies (-592 points),  Oil &Gas Marketing Companies (-579 points) and Fertilizer (-503 points).

Company-wise Scrips of HBL (-845 points), UBL (-661 points), OGDC (-578 points), PPL (-573 points) and HUBC (-473 points) endured the maximum losses during the month.

Speaking of today's performance, the Index remained positive throughout the session touching an intraday high of 29,320.58

Of the 97 traded companies in the KSE100 Index 86 closed up 8 closed down, while 3 remained unchanged. Total volume traded for the index was 186.15 million shares.

Sectors propping up the index were Commercial Banks with 341 points, Fertilizer with 161 points, Oil & Gas Exploration Companies with 125 points, Power Generation & Distribution with 117 points and Cement with 109 points.

The most points added to the index was by ENGRO which contributed 90 points followed by HUBC with 83 points, MCB with 77 points, UBL with 76 points and HBL with 58 points.

Sector wise, the index was let down by Real Estate Investment Trust with 2 points, Textile Spinning with 2 points and Sugar & Allied Industries with 1 points.

The most points taken off the index was by MUREB which stripped the index of 3 points followed by DCR with 2 points, IDYM with 2 points, JLICL with 1 point and JDWS with 1 point.

All Share Volume increased by 62.40 Million to 221.87 Million Shares. Market Cap increased by Rs.190.21 Billion.

Total companies traded were 353 compared to 328 from the previous session. Of the scrips traded 288 closed up, 56 closed down while 9 remained unchanged.

Total trades increased by 26,574 to 87,709.

Value Traded increased by 3.13 Billion to Rs.7.36 Billion

CompanyVolume

Top Ten by Volume

Hascol Petroleum25,779,000
Maple Leaf Cement Factory19,029,500
K-Electric16,823,500
Oil & Gas Development Company12,716,786
Unity Foods11,954,500
Fauji Cement Company8,050,000
Pioneer Cement8,019,000
Nishat Mills7,723,400
D.G. Khan Cement Company5,752,500
TRG Pakistan5,283,500

 

SectorVolume

Top Sector by Volume

Cement51,820,451
Oil & Gas Marketing Companies31,568,663
Power Generation & Distribution23,458,969
Commercial Banks20,712,991
Oil & Gas Exploration Companies17,394,227
Vanaspati & Allied Industries11,955,800
Technology & Communication9,757,000
Textile Composite9,588,350
Chemical8,805,840
Engineering5,625,200

 

 

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Posted on: 2020-03-31T18:58:00+05:00

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