Closing bell: Seriously?

Sep 05, 2019 (MNL): The stock market failed to hold the rising momentum from yesterday’s session although it opened and remained positive for most of the day.

A few minutes before the trading closed for the day, the index lost its footing and slid by 29 points or 0.1% to conclude the day at 30,214 points due to the meeting of Asian Pacific Group (APG) which will be held on next week.

Moreover, a long weekend ahead made investors sell their stocks.

The Index traded in a range of 601.24 points or 1.99 percent of previous close, showing an intraday high of 30,745.30 and a low of 30,144.06.

Of the 92 traded companies in the KSE100 Index 33 closed up 55 closed down, while 4 remained unchanged. Total volume traded for the index was 111.50 million shares.

Sector wise, the index was let down by Fertilizer with 37 points, Cement with 33 points, Oil & Gas Marketing Companies with 15 points, Pharmaceuticals with 12 points and Food & Personal Care Products with 11 points.

The most points taken off the index was by MCB which stripped the index of 36 points followed by ENGRO with 33 points, UBL with 26 points, NESTLE with 15 points and LUCK with 12 points.

Sectors propping up the index were Power Generation & Distribution with 43 points, Oil & Gas Exploration Companies with 29 points, Commercial Banks with 17 points, Automobile Assembler with 13 points and Chemical with 10 points.

The most points added to the index was by HUBC which contributed 45 points followed by HBL with 38 points, PPL with 15 points, ABL with 13 points and OGDC with 13 points.

All Share Volume increased by 17.65 Million to 146.54 Million Shares. Market Cap decreased by Rs.28.53 Billion.

Total companies traded were 342 compared to 341 from the previous session. Of the scrips traded 122 closed up, 202 closed down while 18 remained unchanged.

Total trades increased by 9,743 to 59,477.

Value Traded increased by 0.21 Billion to Rs.5.11 Billion

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