Closing Bell: Time to get off the high horse?

July 15, 2020 (MLN): The KSE-100 index on Wednesday finally broke its 13-day long positive streak as it lost around 66 points and closed at 36,679-mark.

The benchmark index, which was on a continuous winning streak ever since the attacks on the Pakistan Stock Exchange took place, was only 2 sessions away from matching its record of 15-day long positive streak made in 2005.

It may be relevant to note that the index had surged by around 9% during the last 13 sessions, while the highest gain witnessed so far has been of 18.9% in 2005.

Moreover, the biggest contributors to the index over the last 13 sessions have been Commercial Banks (+672 pts), Cement (+542 pts), and E&P Companies (+562 pts). Company-wise, the scrips of LUCK, HBL, PPL, MCB, and PSO turned out to be the market drivers.

According to analyst reports, the market opened on a positive note and was expected to remain that way, but ultimately surrendered to the profit-booking activity by risk-averse investors. The investors also seemed to be dubious over the earnings results of the companies, due to the impact that COVID-19 pandemic has had on their operations.

The Index traded in a range of 250.61 points or 0.68 percent of previous close, showing an intraday high of 36,890.05 and a low of 36,639.44.

Of the 98 traded companies in the KSE100 Index 34 closed up 58 closed down, while 6 remained unchanged. Total volume traded for the index was 227.61 million shares.

Sector wise, the index was let down by Oil & Gas Marketing Companies with 30 points, Inv. Banks / Inv. Cos. / Securities Cos. with 24 points, Fertilizer with 24 points, Commercial Banks with 23 points and Food & Personal Care Products with 7 points.

The most points taken off the index was by DAWH which stripped the index of 21 points followed by SNGP with 19 points, MTL with 16 points, MEBL with 13 points and FFC with 10 points.

Sectors propping up the index were Oil & Gas Exploration Companies with 17 points, Tobacco with 16 points, Cement with 6 points, Insurance with 5 points and Power Generation & Distribution with 4 points.

The most points added to the index was by PAKT which contributed 16 points followed by PPL with 15 points, HUBC with 13 points, INDU with 11 points and POL with 10 points.

All Share Volume decreased by 137.86 Million to 328.39 Million Shares. Market Cap increased by Rs.8.44 Billion.

Total companies traded were 386 compared to 393 from the previous session. Of the scrips traded 147 closed up, 216 closed down while 23 remained unchanged.

Total trades decreased by 39,174 to 124,215.

Value Traded decreased by 4.10 Billion to Rs.14.16 Billion


Top Ten by Volume

Maple Leaf Cement Factory33,169,000
Pak Elektron27,109,000
Unity Foods21,793,000
Pakistan Petroleum17,338,911
TRG Pakistan16,400,500
JS Bank12,675,000
The Bank of Punjab8,976,500
Sui Northern Gas Pipelines8,479,000
D.G. Khan Cement Company6,991,500
Hascol Petroleum6,239,000



Top Sector by Volume

Commercial Banks34,572,739
Technology & Communication34,047,300
Cable & Electrical Goods33,150,500
Vanaspati & Allied Industries21,796,400
Oil & Gas Exploration Companies21,253,728
Oil & Gas Marketing Companies21,158,524
Automobile Assembler12,654,250
Power Generation & Distribution11,260,206



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Posted on: 2020-07-15T18:15:00+05:00