Closing Bell: Monetray Policy fails to live up to market expectations

May 18, 2020 (MLN): Despite the Central Bank slashed policy rate by a further 100 bps, domestic equities remained under pressure today as profit taking was witnessed throughout the day to lock in gains ahead of Eid break.

As a result, the benchmark KSE-100 index recorded a negative close of 203 points to settle at 33,805 level.

According to the closing note by Ismail Iqbal Securities, E&Ps remained in limelight as international crude oil prices continue to recover. WTI and Brent rose 5.5% and 3.8% respectively.

The Index traded in a range of 631.99 points or 1.86 percent of previous close, showing an intraday high of 34,394.66 and a low of 33,762.67.

Of the 96 traded companies in the KSE100 Index 34 closed up 61 closed down, while 1 remained unchanged. Total volume traded for the index was 144.65 million shares.

Sector wise, the index was let down by Commercial Banks with 117 points, Cement with 58 points, Miscellaneous with 42 points, Fertilizer with 39 points and Oil & Gas Marketing Companies with 14 points.

The most points taken off the index was by PSEL which stripped the index of 34 points followed by MCB with 33 points, BAHL with 25 points, LUCK with 23 points and FFC with 22 points.

Sectors propping up the index were Oil & Gas Exploration Companies with 54 points, Food & Personal Care Products with 19 points, Technology & Communication with 13 points, Tobacco with 5 points and Chemical with 5 points.

The most points added to the index was by OGDC which contributed 28 points followed by NESTLE with 25 points, TRG with 18 points, PPL with 18 points and ICI with 13 points.

All Share Volume increased by 48.68 Million to 261.97 Million Shares. Market Cap increased by Rs.9.10 Billion.

Total companies traded were 344 compared to 339 from the previous session. Of the scrips traded 143 closed up, 184 closed down while 17 remained unchanged.

Total trades increased by 14,278 to 90,258.

Value Traded increased by 1.07 Billion to Rs.7.28 Billion


Top Ten by Volume

TRG Pakistan22,525,000
Worldcall Telecom17,323,000
Maple Leaf Cement Factory16,552,500
First Capital Securities Corporation15,060,000
Hascol Petroleum11,423,000
Unity Foods8,881,000
Jahangir Siddiqui & Co. Ltd.7,473,000
Pak Elektron6,396,500
Hum Network6,202,500



Top Sector by Volume

Technology & Communication56,259,500
Inv. Banks / Inv. Cos. / Securities Cos.31,449,600
Power Generation & Distribution21,385,510
Oil & Gas Marketing Companies14,955,376
Commercial Banks11,072,277
Vanaspati & Allied Industries8,896,500
Food & Personal Care Products6,490,680



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Posted on: 2020-05-18T16:04:00+05:00