Closing Bell: Stocks bow to selling pressure

December 23, 2019 (MLN): The stocks started off the week with the sluggish performance. The KSE-100 index succumbed to selling pressure as it ended the trading session with 824 point or 2.02 percent decline and closed at 40,008 level.

According to Arif Habib Limited, selling was mainly observed in oil & gas chain. PPL’s most anticipated discovery proved to be a miniscule one that dampened the investor sentiment.

The Index traded in a range of 907.54 points or 2.22 percent of previous close, showing an intraday high of 40,839.42 and a low of 39,931.88.

Of the 91 traded companies in the KSE100 Index 6 closed up 84 closed down, while 1 remained unchanged. Total volume traded for the index was 104.29 million shares.

Sector wise, the index was let down by Commercial Banks with 225 points, Oil & Gas Exploration Companies with 174 points, Power Generation & Distribution with 71 points, Fertilizer with 66 points and Inv. Banks / Inv. Cos. / Securities Cos. with 56 points.

The most points taken off the index was by HBL which stripped the index of 93 points followed by PPL with 91 points, HUBC with 54 points, DAWH with 51 points and OGDC with 49 points.

Sectors propping up the index were Food & Personal Care Products with 4 points and Glass & Ceramics with 1 points.

The most points added to the index was by NESTLE which contributed 9 points followed by INDU with 5 points, DGKC with 3 points and GHGL with 1 point.

All Share Volume decreased by 1.61 Million to 179.10 Million Shares. Market Cap decreased by Rs.126.13 Billion.

Total companies traded were 342 compared to 344 from the previous session. Of the scrips traded 41 closed up, 289 closed down while 12 remained unchanged.

Total trades decreased by 10,035 to 65,741.

Value Traded decreased by 1.58 Billion to Rs.6.96 Billion

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