Closing Bell: Unchanged policy rate fails to excite investors

Sep 17, 2019 (MNL): After yesterday’s successful performance of the stock market, the index lost its footing and slid by 19 points or 0.06% and concluded the day at 31,908 points. Absence of positive triggers resulted in selling pressure for investors. Also, the announcement of policy rate by SBP to maintain the rate at 13.25% failed to bring positivity in the market.

The Index traded in a range of 333.59 points or 1.04 percent of previous close, showing an intraday high of 32,105.03 and a low of 31,771.44.

Of the 92 traded companies in the KSE100 Index 43 closed up 45 closed down, while 4 remained unchanged. Total volume traded for the index was 104.60 million shares.

Sector wise, the index was let down by Fertilizer with 36 points, Cement with 30 points, Power Generation & Distribution with 21 points, Oil & Gas Marketing Companies with 9 points and Food & Personal Care Products with 8 points.

The most points taken off the index was by LUCK which stripped the index of 35 points followed by BAHL with 26 points, FFC with 20 points, ENGRO with 20 points and HUBC with 17 points.

Sectors propping up the index were Oil & Gas Exploration Companies with 35 points, Miscellaneous with 21 points, Commercial Banks with 17 points, Insurance with 6 points and Refinery with 6 points.

The most points added to the index was by HBL which contributed 35 points followed by UBL with 30 points, PSEL with 21 points, PPL with 20 points and EFERT with 11 points.

All Share Volume increased by 17.41 Million to 122.01 Million Shares. Market Cap decreased by Rs.5.79 Billion.

Total companies traded were 363 compared to 345 from the previous session. Of the scrips traded 174 closed up, 170 closed down while 19 remained unchanged.

Total trades increased by 7,392 to 55,043.

Value Traded increased by 0.22 Billion to Rs.5.20 Billion

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