Closing Bell: May you live in interesting times…

March 12, 2020 (MLN): The famous Chinese saying has seemed to not only materialize to its fullest, but is showing no signs of departure for now. It seems that humans aren’t the only victims of the Covid-19, as bulls too are showing a high level of vulnerability towards it. The bears, on the other hand, are grateful than ever, as they are romping to victory almost every day…

The World Health Organization on Wednesday declared the Covid-19 virus as a global pandemic, clearly indicating that the economies across the globe were at the brink of serious damage lest no measures were taken in time to curb the virus.

Taking it as a serious threat or perhaps, an opportunity to do what he enjoys the most, the President of United States on Thursday imposed travel ban on European nations for a month, in an attempt to fight the coronavirus. Naturally, the global stocks did not react favorably to this move, and ended up losing more points than ever.

The KSE-100 index was no exception to this, as it too lost a humongous amount of points during the day, so much so that the PSX was once again forced to impose a market halt and suspend trading for 45 minutes! Mind you, this is the second time this week that the market has witnessed suspension in trading.

The benchmark index lost around 1,716 points on Thursday, and closed the session at 35,956 i.e. 4.56% lower than the previous session’s close.

The Index remained negative throughout the session touching an intraday low of 35,884.22

Of the 93 traded companies in the KSE100 Index 5 closed up vwhile 88 closed down. Total volume traded for the index was 188.31 million shares.

Sector wise, the index was let down by Commercial Banks with 528 points, Oil & Gas Exploration Companies with 237 points, Fertilizer with 234 points, Cement with 211 points and Oil & Gas Marketing Companies with 102 points.

The most points taken off the index was by HBL which stripped the index of 163 points followed by ENGRO with 132 points, LUCK with 108 points, HUBC with 82 points and BAHL with 75 points.

Sectors propping up the index were Tobacco with 43 points and Sugar & Allied Industries with 3 points.

The most points added to the index was by PAKT which contributed 34 points followed by INDU with 21 points, PMPK with 9 points, SPWL with 4 points and JDWS with 3 points.

All Share Volume increased by 13.06 Million to 230.70 Million Shares. Market Cap decreased by Rs.222.03 Billion.

Total companies traded were 323 compared to 350 from the previous session. Of the scrips traded 42 closed up, 271 closed down while 10 remained unchanged.

Total trades decreased by 16,357 to 75,868.

Value Traded decreased by 1.99 Billion to Rs.9.84 Billion

CompanyVolume

Top Ten by Volume

The Bank of Punjab28,009,500
Fauji Cement Company17,410,000
Maple Leaf Cement Factory16,797,500
K-Electric14,730,000
Pioneer Cement10,631,500
TRG Pakistan8,135,500
D.G. Khan Cement Company8,048,500
Hascol Petroleum8,016,000
Unity Foods7,065,000
Power Cement6,807,500

 

SectorVolume

Top Sector by Volume

Cement69,478,400
Commercial Banks40,041,900
Power Generation & Distribution21,324,500
Technology & Communication17,553,900
Oil & Gas Exploration Companies11,441,680
Oil & Gas Marketing Companies10,697,100
Engineering8,946,600
Fertilizer7,740,400
Vanaspati & Allied Industries7,067,400
Chemical6,341,100

 

 

Copyright Mettis Link News

 

Posted on: 2020-03-12T17:34:00+05:00

33384