Closing Bell: Virus fears fuel rout

February 25, 2020 (MLN): The upsurge of coronavirus continued triggering a fall in global stocks. Taking inspiration from the previous trading session, the KSE-100 lost 285 points or a decrease of 0.73% on Tuesday and concluded the session at 38,858-level. 

The stocks continued its downward path due to inconclusive IMF review and warnings from FATF to authorities to take stern actions for significant progress, as per research note of IMS.

The Index traded in a range of 555.83 points or 1.42 per cent of the previous close, showing an intraday high of 39,249.56 and a low of 38,693.73.

Of the 93 traded companies in the KSE100 Index, 39 closed up 52 closed down, while 2 remained unchanged. Total volume traded for the index was 94.48 million shares.

Sector-wise, the index was let down by Commercial Banks with 116 points, Oil & Gas Exploration Companies with 81 points, Fertilizer with 47 points, Tobacco with 34 points and Power Generation & Distribution with 28 points.

The most points taken off the index was by UBL which stripped the index of 54 points followed by PPL with 52 points, ENGRO with 49 points, HBL with 42 points and MCB with 36 points.

Sectors propping up the index were Cement with 25 points, Inv. Banks / Inv. Cos. / Securities Cos. with 5 points, Engineering with 5 points, Insurance with 4 points and Oil & Gas Marketing Companies with 3 points.

The most points added to the index was by MEBL which contributed 20 points followed by NBP with 13 points, EFERT with 12 points, KOHC with 7 points and MARI with 7 points.

All Share Volume decreased by 19.93 Million to 124.35 Million Shares. Market Cap decreased by Rs.61.91 Billion.

Total companies traded were 336 compared to 345 from the previous session. Of the scrips traded 159 closed up, 162 closed down while 15 remained unchanged.

Total trades increased by 234 to 59,873.

Value Traded increased by 0.45 Billion to Rs.5.96 Billion

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