August 20, 2020 (MLN): The benchmark KSE-100 index remained bearish today as it ended the session by losing another 285 points to settle at 39,868 points. The Market plummeted towards the end of the session losing around 350 points in the last 35 minutes of trade as investors chose to book profits on attractive levels.
According to the closing note by Aba Ali Habib Securities, developments regarding the collection of GIDC coupled with reduction in profit margins of IPPs continue to drive investors’ sentiments. Moreover, SBP’s FDI data further dented the investors’ confidence as Jul’20 FDIs showed decline of 35%MoM to $114.3mn.
In addition, below expectation results of highly weighted banking sector put downside pressure on the benchmark. These include; MCB Bank Limited which posted net profits of Rs 13.47 billion compared to Rs 10.42 billion reaped in the corresponding period last year, Allied Bank Limited reported 36% higher net profits compared to the same period last year, Faysal Bank disclosed net profit of Rs 3.79 billion which was 26% higher against net profits of Rs 3 billion last year, while Bank of Khyber reported earnings of Rs. 1.2 billion i.e.142% higher than the figures recorded in the same period last year.
Besides, Bank Al Habib Limited announced to purchase TPL Properties’ flagship project ‘Centrepoint’.
Of the 94 traded companies in the KSE100 Index 28 closed up 65 closed down, while 1 remained unchanged. Total volume traded for the index was 242.94 million shares.
Sector wise, the index was let down by Cement with 80 points, Commercial Banks with 44 points, Oil & Gas Marketing Companies with 27 points, Oil & Gas Exploration Companies with 24 points and Power Generation & Distribution with 24 points.
The most points taken off the index was by MCB which stripped the index of 70 points followed by HUBC with 32 points, LUCK with 29 points, ENGRO with 26 points and PPL with 16 points.
Sectors propping up the index were Technology & Communication with 16 points, Chemical with 6 points, Tobacco with 4 points and Vanaspati & Allied Industries with 2 points.
The most points added to the index was by HBL which contributed 19 points followed by TRG with 14 points, ABL with 14 points, KAPCO with 14 points and FFC with 10 points.
All Share Volume decreased by 32.58 Million to 394.62 Million Shares. Market Cap decreased by Rs.38.80 Billion.
Total companies traded were 401 compared to 400 from the previous session. Of the scrips traded 145 closed up, 238 closed down while 18 remained unchanged.
Total trades decreased by 21,280 to 128,201.
Value Traded decreased by 4.36 Billion to Rs.14.23 Billion
| Company | Volume |
|---|---|
| TRG Pakistan | 30,418,500 |
| Pakistan Telecommunication Company Ltd | 21,046,500 |
| Unity Foods | 20,135,500 |
| TPL Corp | 19,619,000 |
| Kot Addu Power Company | 19,469,000 |
| Faysal Bank | 19,261,000 |
| Un ity Food(R) | 13,611,500 |
| Hascol Petroleum | 12,069,000 |
| Dost Steels | 10,224,500 |
| Aisha Steel Mills | 10,104,500 |
| Sector | Volume |
|---|---|
| Technology & Communication | 84,552,100 |
| Power Generation & Distribution | 41,797,727 |
| Commercial Banks | 36,745,281 |
| Cement | 34,358,889 |
| Vanaspati & Allied Industries | 33,748,400 |
| Oil & Gas Marketing Companies | 30,832,359 |
| Engineering | 29,942,600 |
| Refinery | 14,614,500 |
| Miscellaneous | 12,203,800 |
| Textile Composite | 11,541,700 |
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