March 16, 2020 (MLN): A blood bath was witnessed on the trading floors today after a market halt of 45 minutes in the morning session failed to turn the tide of negative sentiment.
The panic selling following the COVID-19 outbreak worldwide that has dented the global economy including Pakistan was the main reason behind a significant drop. Furthermore, the emergency rate cut of 100 bps by US Fed created more anxiety among the investors, consequently, KSE-100 index dropped 2,375 points or more than 6% in a single day session and closed at 33,686 points level.
Of the 95 traded companies in the KSE100 Index none closed up 92 closed down, while 3 remained unchanged. Total volume traded for the index was 170.25 million shares.
Sector-wise, the index was let down by Commercial Banks with 689 points, Oil & Gas Exploration Companies with 326 points, Fertilizer with 281 points, Cement with 220 points and Power Generation & Distribution with 155 points.
The most points taken off the index was by HBL which stripped the index of 169 points followed by ENGRO with 140 points, HUBC with 126 points, MCB with 124 points and UBL with 115 points.
All Share Volume decreased by 75.03 Million to 215.44 Million Shares. Market Cap decreased by Rs.381.92 Billion.
Total companies traded were 346 compared to 354 from the previous session. Of the scrips traded 18 closed up, 319 closed down while 9 remained unchanged.
Total trades decreased by 27,619 to 65,985.
Value Traded decreased by 5.91 Billion to Rs.8.06 Billion
|The Bank of Punjab||44,377,000|
|Maple Leaf Cement Factory||13,508,000|
|Oil & Gas Development Company||6,126,200|
|Pakistan International Bulk Terminal||6,003,500|
|The Hub Power Company||5,495,500|
|D.G. Khan Cement Company||5,315,500|
|Technology & Communication||14,042,400|
|Oil & Gas Exploration Companies||14,002,840|
|Power Generation & Distribution||12,495,500|
|Oil & Gas Marketing Companies||10,377,700|
|Vanaspati & Allied Industries||9,349,500|
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