November 2, 2020 (MLN): The benchmark KSE-100 Index remained bearish today as it lost around 776 points on the first trading session of the week to settle at 39,112 points, i.e. down by 1.94% compared to the Friday’s close.
The bearish spell was due to the panic selling by investors on worries over surge in Covid-19 cases which possess risk to economic recovery along with the fall in international oil prices.
According to the report by Aba Ali Habib Securities, international oil prices took the battering due to bleak global demand outlook owing to fresh lockdown in some European countries which has spillover effect on our local bourse.
During the session, market saw signs of intermittent recovery on the pretext of Supreme Court’s decision on GIDC review case, which bodes well for Fertilizer stocks, as well as anticipation with regards Amnesty scheme. However, selling pressure kept the Index recovery in check, said the report by Arif Habib Limited.
The Index remained negative throughout the session touching an intraday low of 38,776.70
Of the 95 traded companies in the KSE100 Index 15 closed up 79 closed down, while 1 remained unchanged. Total volume traded for the index was 205.64 million shares.
Sector wise, the index was let down by Commercial Banks with 186 points, Oil & Gas Exploration Companies with 144 points, Oil & Gas Marketing Companies with 71 points, Cement with 59 points and Fertilizer with 52 points.
The most points taken off the index was by HBL which stripped the index of 69 points followed by OGDC with 67 points, PPL with 60 points, LUCK with 45 points and MCB with 38 points.
Sectors propping up the index were Inv. Banks / Inv. Cos. / Securities Cos. with 11 points, Vanaspati & Allied Industries with 4 points, Automobile Parts & Accessories with 1 points and Close – End Mutual Fund with 1 points.
The most points added to the index was by DAWH which contributed 17 points followed by DGKC with 5 points, UNITY with 4 points, NATF with 4 points and IGIHL with 4 points.
All Share Volume decreased by 219.49 Million to 322.29 Million Shares. Market Cap decreased by Rs.144.57 Billion.
Total companies traded were 396 compared to 422 from the previous session. Of the scrips traded 87 closed up, 294 closed down while 15 remained unchanged.
Total trades decreased by 64,679 to 111,251.
Value Traded decreased by 8.37 Billion to Rs.11.97 Billion
| Company | Volume |
|---|---|
| Hascol Petroleum | 32,404,797 |
| Unity Foods | 31,221,500 |
| Pakistan International Bulk Terminal | 20,175,000 |
| Agha Steel Ind.Ltd | 16,760,000 |
| Pakistan Refinery | 16,711,000 |
| Power Cement | 15,839,000 |
| Maple Leaf Cement Factory | 15,513,126 |
| K-Electric | 12,000,500 |
| TRG Pakistan | 9,401,000 |
| Fauji Foods | 9,102,500 |
| Sector | Volume |
|---|---|
| Cement | 49,413,727 |
| Oil & Gas Marketing Companies | 36,766,243 |
| Vanaspati & Allied Industries | 31,221,700 |
| Engineering | 28,957,800 |
| Refinery | 21,977,600 |
| Transport | 20,612,800 |
| Technology & Communication | 20,224,200 |
| Power Generation & Distribution | 20,105,779 |
| Commercial Banks | 16,166,946 |
| Chemical | 12,634,500 |
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