Closing Bell: The song remains the same

Mar 04, 2020 (MLN): The domestic Equity market extended yesterday's losses by ending another session in red after losing 293 points and settled at 38,906 points.

Despite strong expectations regarding monetary easing in March 2020 policy announcement after US Fed emergency rate cut by 50 bps over the expected economic slowdown induced by fear of Coronavirus, the investors' sentiments remained negative.

The Index traded in a range of 503.56 points or 1.28 percent of previous close, showing an intraday high of 39,262.45 and a low of 38,758.89.

Of the 91 traded companies in the KSE100 Index 24 closed up 66 closed down, while 1 remained unchanged. Total volume traded for the index was 148.12 million shares.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 107 points, Power Generation & Distribution with 53 points, Fertilizer with 45 points, Oil & Gas Marketing Companies with 26 points and Inv. Banks / Inv. Cos. / Securities Cos. with 20 points.

The most points taken off the index was by ENGRO which stripped the index of 46 points followed by HUBC with 45 points, OGDC with 43 points, PPL with 33 points and MEBL with 20 points.

Sectors propping up the index were Cement with 38 points, Paper & Board with 5 points, Chemical with 5 points, Tobacco with 2 points and Food & Personal Care Products with 1 points.

The most points added to the index was by MCB which contributed 20 points followed by FFC with 20 points, COLG with 16 points, PAKT with 13 points and UBL with 12 points.

All Share Volume decreased by 38.29 Million to 186.99 Million Shares. Market Cap decreased by Rs.39.55 Billion.

Total companies traded were 347 compared to 361 from the previous session. Of the scrips traded 118 closed up, 211 closed down while 18 remained unchanged.

Total trades decreased by 12,096 to 72,126.

Value Traded decreased by 1.38 Billion to Rs.7.38 Billion

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