Closing Bell: The Big Sleep

March 17, 2020: The KSE-100 index lost further 1,067 points on Tuesday, which brought it to 32,616-mark, a level which was last witnessed on October 3, 2019. Over a span of 6 sessions, the benchmark index has lost about 5,079, with no signs of recovery visible at the moment.

The market seems to be engulfed in a sense of extreme hopelessness, as even the news of a looming rate cut does not seem to be changing the minds of the investors.

The Index traded in a range of 1472.23 points or 4.37 percent of previous close, showing an intraday high of 33,892.57 and a low of 32,420.34.

Of the 95 traded companies in the KSE100 Index 22 closed up 70 closed down, while 3 remained unchanged. Total volume traded for the index was 196.59 million shares.

Sector wise, the index was let down by Commercial Banks with 531 points, Oil & Gas Exploration Companies with 147 points, Cement with 85 points, Oil & Gas Marketing Companies with 65 points and Textile Composite with 63 points.

The most points taken off the index was by HBL which stripped the index of 156 points followed by UBL with 106 points, MCB with 102 points, LUCK with 80 points and PPL with 63 points.

Sectors propping up the index were Fertilizer with 23 points, Refinery with 5 points, Transport with 2 points and Synthetic & Rayon with 2 points.

The most points added to the index was by ENGRO which contributed 13 points followed by FFC with 13 points, EPCL with 10 points, HMB with 7 points and DGKC with 6 points.

All Share Volume increased by 24.94 Million to 240.38 Million Shares. Market Cap decreased by Rs.180.51 Billion.

Total companies traded were 355 compared to 346 from the previous session. Of the scrips traded 86 closed up, 251 closed down while 18 remained unchanged.

Total trades increased by 26,159 to 92,144.

Value Traded increased by 3.23 Billion to Rs.11.29 Billion

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