November 23, 2020 (MLN): Domestic equities rout deepened on Monday, on concerns that rising numbers of coronavirus infections in the country will push the government to bring back strict lockdown. Accordingly, the benchmark KSE-100 index shed further 554 points and closed the trading at 39,632 points, i.e. 1.38% lower than the previous session’s close.
The index slid deeper into red and lost over 800 points during intraday, however, the index managed to recover some of its losses at the end of the trading session as Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) maintained its accommodative policy stance by keeping interest rate unchanged for the next two months.
Furthermore, NCOC’s decision to close educational institutions from 26th Nov’20 till 10th Jan’21 and altering business hours in Punjab dropped additional signals that a national lockdown may also be under consideration, a closing note by Aba Ali Habib Securities highlighted.
The Index remained negative throughout the session touching an intraday low of 39,314.63
Of the 95 traded companies in the KSE100 Index 7 closed up 86 closed down, while 2 remained unchanged. Total volume traded for the index was 117.94 million shares.
Sector wise, the index was let down by Commercial Banks with 121 points, Cement with 65 points, Oil & Gas Marketing Companies with 64 points, Technology & Communication with 42 points and Fertilizer with 41 points.
The most points taken off the index was by HBL which stripped the index of 30 points followed by PSO with 26 points, TRG with 26 points, MEBL with 17 points and MCB with 16 points.
Sectors propping up the index were
The most points added to the index was by COLG which contributed 6 points followed by POL with 5 points, ABOT with 3 points, NESTLE with 3 points and HMB with 3 points.
All Share Volume increased by 5.61 Million to 195.47 Million Shares. Market Cap decreased by Rs.89.55 Billion.
Total companies traded were 382 compared to 380 from the previous session. Of the scrips traded 63 closed up, 297 closed down while 22 remained unchanged.
Total trades increased by 15,737 to 90,569.
Value Traded decreased by 0.10 Billion to Rs.7.48 Billion
|Maple Leaf Cement Factory||7,523,891|
|Pakistan International Bulk Terminal||7,036,000|
|Sui Northern Gas Pipelines||4,807,698|
|Technology & Communication||33,854,400|
|Oil & Gas Marketing Companies||21,716,747|
|Vanaspati & Allied Industries||15,434,100|
|Power Generation & Distribution||9,104,869|
|Food & Personal Care Products||7,332,420|
Copyright Mettis Link News