Dec 20, 2019 (MNL): Extreme volatility continued to be witnessed in today’s trading session as market opened on a negative note taking inspiration from yesterday’s session. After that, in the second session, bulls took over the market and closed the trading at 40,832 points with the gain of 177 points or up by 0.44% from yesterday’s close.
The positive factors keeping the bull market alive after yesterday’s panic selling were some positive developments on economic front which included a decline in Pakistan’s Current Account Deficit for the month of November 2019 by 72.6% YoY and increase in foreign exchange reserves by USD 1,607.40 Million or 10.02%.
Further, the Executive Board of the International Monetary Fund (IMF) allowed the authorities to draw SDR 328 million (about US$ 452.4 million), bringing total disbursements to SDR 1,044 million (about US$ 1,440 million) after completing the first review on Pakistan’s economic performance. All these developments boosted investors’ confidence.
The Benchmark KSE100 index ended the trading session on Friday with a 177.62 point or 0.44 percent gain to close at 40,832.99.
The Index traded in a range of 564.93 points or 1.39 percent of previous close, showing an intraday high of 41,054.42 and a low of 40,489.49.
Of the 92 traded companies in the KSE100 Index 46 closed up 43 closed down, while 3 remained unchanged. Total volume traded for the index was 104.45 million shares.
Sectors propping up the index were Oil & Gas Exploration Companies with 134 points, Fertilizer with 27 points, Inv. Banks / Inv. Cos. / Securities Cos. with 26 points, Tobacco with 19 points and Food & Personal Care Products with 14 points.
The most points added to the index was by PPL which contributed 63 points followed by OGDC with 41 points, DAWH with 24 points, PAKT with 19 points and FFC with 18 points.
Sector wise, the index was let down by Commercial Banks with 38 points, Textile Composite with 18 points, Technology & Communication with 12 points, Oil & Gas Marketing Companies with 11 points and Pharmaceuticals with 5 points.
The most points taken off the index was by UBL which stripped the index of 17 points followed by HMB with 15 points, SNGP with 15 points, NML with 13 points and MCB with 12 points.
All Share Volume decreased by 79.44 Million to 180.71 Million Shares. Market Cap increased by Rs.67.77 Billion.
Total companies traded were 344 compared to 364 from the previous session. Of the scrips traded 156 closed up, 176 closed down while 12 remained unchanged.
Total trades decreased by 20,856 to 75,776.
Value Traded decreased by 2.81 Billion to Rs.8.53 Billion
| Company | Volume |
|---|---|
| Fauji Foods | 14,164,500 |
| Unity Foods | 8,738,000 |
| K-Electric | 7,373,500 |
| Pak Elektron | 5,641,500 |
| Maple Leaf Cement Factory | 5,497,000 |
| Worldcall Telecom | 5,271,000 |
| Pakistan Petroleum | 5,109,100 |
| TRG Pakistan | 4,894,500 |
| Pakistan State Oil Company | 4,526,800 |
| The Hub Power Company | 4,437,000 |
| Sector | Volume |
|---|---|
| Cement | 18,436,300 |
| Food & Personal Care Products | 16,060,360 |
| Technology & Communication | 14,991,000 |
| Oil & Gas Marketing Companies | 14,316,900 |
| Power Generation & Distribution | 13,021,500 |
| Oil & Gas Exploration Companies | 9,714,900 |
| Commercial Banks | 9,570,600 |
| Chemical | 9,302,560 |
| Vanaspati & Allied Industries | 8,740,100 |
| Engineering | 6,716,900 |
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