Closing Bell: Star Spangled Banana Republic

November 4, 2020 (MNL): The KSE-100 index ended the trading session on Wednesday with a 198.92 point or 0.49 percent decline to close at 40,281.96.

The index remained highly volatile throughout the session on account of uncertainty pertaining to the US elections that are being held today. Despair was reflecting on the participation of many investors who chose to step back owing to the rising cases of COVID-19 in Pakistan.

The level of uncertainty and its influence on the markets can be gauged by the fact that investors remained unperturbed by the news of improvement in Pakistan's trade deficit for 4 months (July-October) FY21, wherein it stood at USD 7.58 billion as compared to a deficit of USD 7.72 billion from the corresponding period from FY20.

The Index traded in a range of 688.14 points or 1.70 percent of previous close, showing an intraday high of 40,911.14 and a low of 40,223.00.

Of the 97 traded companies in the KSE100 Index 31 closed up 64 closed down, while 2 remained unchanged. Total volume traded for the index was 234.05 million shares.

Sector wise, the index was let down by Commercial Banks with 88 points, Cement with 43 points, Power Generation & Distribution with 41 points, Pharmaceuticals with 25 points and Oil & Gas Marketing Companies with 24 points.

The most points taken off the index was by HBL which stripped the index of 38 points followed by HUBC with 37 points, UBL with 27 points, PSO with 17 points and BAHL with 17 points.

Sectors propping up the index were Oil & Gas Exploration Companies with 21 points, Automobile Assembler with 17 points, Tobacco with 11 points, Automobile Parts & Accessories with 8 points and Chemical with 6 points.

The most points added to the index was by FFBL which contributed 13 points followed by OGDC with 12 points, MTL with 11 points, TRG with 10 points and COLG with 10 points.

All Share Volume increased by 43.90 Million to 427.85 Million Shares. Market Cap decreased by Rs.17.39 Billion.

Total companies traded were 393 compared to 402 from the previous session. Of the scrips traded 147 closed up, 234 closed down while 12 remained unchanged.

Total trades increased by 12,344 to 140,708.

Value Traded increased by 0.12 Billion to Rs.13.91 Billion

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