September 29, 2020 (MLN): Following Monday’s panic selling, the domestic equities rebounded on Tuesday, by adding 463.41 points to the benchmark KSE-100 index and closed the trading at 41,204.36 points. This was up by 1.14% compared to yesterday’s closing figures.
The bullish spell was backed by the improved liquidity and end of roll-over week which led investors to cherry pick oversold stocks as per the closing note by Ismail Iqbal Securities.
In corporate news, Avanceon Limited’s subsidiary, Octopus Digital (Pvt) Limited, will have the distinction of being the first Industry 4.0 entity to go public in Pakistan. It shall be converted into a Public Limited Company in due course of time within the mandate. Further, it will also be the first technology company to go public in more than 5 years.
Besides, today’s market performance was also affected by the announcements made by the SEARLE which witnessed a 12.5% YoY increase in net profits for FY20 to Rs 2.548 billion compared to the profits of Rs 2.265 billion reported in FY19.
The Index traded in a range of 1054.62 points or 2.59 percent of the previous close, showing an intraday high of 41,445.47 and a low of 40,390.85.
Of the 95 traded companies in the KSE100 Index, 74 closed up 21 closed down, while 0 remained unchanged. The total volume traded for the index was 243.68 million shares.
Sectors propping up the index were Commercial Banks with 137 points, Oil & Gas Exploration Companies with 61 points, Oil & Gas Marketing Companies with 47 points, Cement with 47 points and Fertilizer with 45 points.
The most points added to the index was by BAHL which contributed 43 points followed by ENGRO with 38 points, LUCK with 38 points, OGDC with 21 points and TRG with 21 points.
Sector-wise, the index was let down by Miscellaneous with 11 points, Food & Personal Care Products with 4 points and Modarabas with 1 points.
The most points taken off the index was by SHFA which stripped the index of 11 points followed by SYS with 11 points, SEARL with 10 points, KTML with 6 points and CHCC with 5 points.
All Share Volume decreased by 53.54 Million to 353.65 Million Shares. Market Cap increased by Rs.74.30 Billion.
The total companies traded were 412 compared to 418 from the previous session. Of the scrips traded 277 closed up, 115 closed down while 20 remained unchanged.
Total trades increased by 559 to 120,005.
Value Traded decreased by 0.48 Billion to Rs.13.80 Billion
| Company | Volume |
|---|---|
| Hascol Petroleum | 50,223,500 |
| Unity Foods | 22,625,000 |
| K-Electric | 21,172,500 |
| Pakistan International Bulk Terminal | 16,901,500 |
| TRG Pakistan | 16,655,500 |
| Pakistan Refinery | 16,100,000 |
| Maple Leaf Cement Factory | 14,359,500 |
| Byco Petroleum Pakistan | 12,935,000 |
| The Bank of Punjab | 10,684,500 |
| Fauji Foods | 9,612,500 |
| Sector | Volume |
|---|---|
| Oil & Gas Marketing Companies | 62,433,064 |
| Cement | 38,557,422 |
| Technology & Communication | 35,216,900 |
| Refinery | 31,715,600 |
| Power Generation & Distribution | 29,576,975 |
| Commercial Banks | 26,755,598 |
| Vanaspati & Allied Industries | 22,626,400 |
| Food & Personal Care Products | 18,787,690 |
| Transport | 17,728,500 |
| Engineering | 15,855,200 |
Copyright Mettis Link News
37186
