Closing Bell: Sleepers awake

November 17, 2020 (MLN): The Pakistan Stock Exchange on Tuesday witnessed a modest rally as an increase in international oil prices amid hopes of another promising coronavirus vaccine from biotech group Moderna with nearly 95% efficacy, drove investors’ sentiments.

However, as per a report by Aba Ali Habib, the anticipation of OPEC’s meeting to decide the path of supply cut coupled with rapidly increasing Covid-19 cases in the country intervened the rally and gradually lost its momentum after peaking at the 40,964.22 level.

Accordingly, the benchmark KSE-100 index ended the trading session on Tuesday with a 147.92 point or 0.37 percent gain to close at 40,652.67.

It is pertinent to mention that  All-Share Volume decreased by 31.10 million to 150.34 million shares. This marks the lowest volume seen by the benchmark index since June 19, 2020.

The Index remained positive throughout the session touching an intraday high of 40,963.58.

Of the 96 traded companies in the KSE100 Index, 60 closed up 32 closed down, while 4 remained unchanged. Total volume traded for the index was 79.69 million shares.

Sectors propping up the index were Commercial Banks with 93 points, Oil & Gas Exploration Companies with 52 points, Cement with 22 points, Pharmaceuticals with 7 points and Engineering with 6 points.

The most points added to the index was by UBL which contributed 51 points followed by POL with 22 points, PPL with 20 points, MARI with 15 points and LUCK with 13 points.

Sector wise, the index was let down by Chemical with 21 points, Power Generation & Distribution with 12 points, Technology & Communication with 12 points, Fertilizer with 5 points and Inv. Banks / Inv. Cos. / Securities Cos. with 3 points.

The most points taken off the index was by COLG which stripped the index of 28 points followed by SYS with 14 points, HUBC with 13 points, FFC with 11 points and OGDC with 5 points.

 Market Cap increased by Rs.18.52 Billion.

Total companies traded were 381 compared to 366 from the previous session. Of the scrips traded 218 closed up, 142 closed down while 21 remained unchanged.

Total trades increased by 3,351 to 70,946.

Value Traded increased by 0.16 Billion to Rs.6.34 Billion

Copyright Mettis Link News