Closing Bell: Treading on a tight rope

May 8, 2020 (MLN): The domestic equities sustained volatility on Friday and for the third consecutive day finished the session in a red zone.

Despite witnessing some positive developments on the local front such as stability in Foreign reserves and reduction in RLNG prices for May 2020 and the lifting of lockdown from tomorrow, the investors’ sentiments remained gloomy.

The benchmark KSE-100 index opened on a positive note and marched up to hit an intra-day high of 33,501 points. However, near close, the momentum could not be sustained as a continuous surge in Covid-19 cases in the country dragged the index in the red.

At close, the KSE-100 index recorded a decrease of 63 points, or 0.11%, to settle at 33,267 points level.

The Index traded in a range of 341.81 points or 1.03 percent of the previous close, showing an intraday high of 33,500.89 and a low of 33,159.08.

Of the 95 traded companies in the KSE100 Index, 38 closed up 53 closed down, while 4 remained unchanged. Total volume traded for the index was 62.92 million shares.

Sector-wise, the index was let down by Commercial Banks with 50 points, Fertilizer with 29 points, Automobile Assembler with 12 points, Cement with 11 points and Chemical with 11 points.

The most points taken off the index was by LUCK which stripped the index of 17 points followed by UBL with 13 points, ICI with 12 points, ENGRO with 11 points and HBL with 10 points.

Sectors propping up the index were Oil & Gas Marketing Companies with 32 points, Power Generation & Distribution with 25 points, Food & Personal Care Products with 20 points, Tobacco with 12 points and Paper & Board with 2 points.

The most points added to the index was by HUBC which contributed 27 points followed by NESTLE with 26 points, SNGP with 19 points, PAKT with 12 points and PSO with 6 points.

All Share Volume decreased by 88.01 Million to 88.02 Million Shares. Market Cap increased by Rs.9.12 Billion.

Total companies traded were 330 compared to 331 from the previous session. Of the scrips traded 139 closed up, 166 closed down while 25 remained unchanged.

Total trades decreased by 40,895 to 45,299.

Value Traded decreased by 3.67 Billion to Rs.3.82 Billion

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