Closing Bell: Wag the Dog!

January 06, 2020 (MNL): The efforts of the impeached President of the United States to deflect attention from his domestic troubles, seems to have roiled the markets everywhere with crude oil and gold prices surging and stock markets taking a battering.

The story was no different at the Pakistan stock exchange where most of the gains made early in the New Year have been all but eroded.

The Benchmark KSE100 index ended the trading session on Monday with a 1027.06 point or 2.43 percent decline to close at 41,296.24.

The Index remained negative throughout the session touching an intraday low of 41,206.49

Of the 93 traded companies in the KSE100 Index 3 closed up while 90 closed down. Total volume traded for the index was 200.00 million shares.

Sector wise, the index was let down by Commercial Banks with 186 points, Fertilizer with 155 points, Cement with 111 points, Oil & Gas Exploration Companies with 92 points and Power Generation & Distribution with 85 points.

The most points taken off the index was by ENGRO which stripped the index of 97 points followed by HUBC with 65 points, LUCK with 53 points, PPL with 48 points and FFC with 36 points.

Sectors propping up the index were Real Estate Investment Trust with 1 points.

The most points added to the index was by JLICL which contributed 4 points followed by DCR with 1 point.

All Share Volume decreased by 56.25 Million to 266.63 Million Shares. Market Cap decreased by Rs.169.21 Billion.

Total companies traded were 359 compared to 360 from the previous session. Of the scrips traded 28 closed up, 325 closed down while 6 remained unchanged.

Total trades decreased by 26,976 to 85,025.

Value Traded decreased by 4.23 Billion to Rs.10.46 Billion

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