PSX Closing Bell: An Exercise in Randomness

February 4, 2021 (MLN): Following yesterday’s successful performance of the stock market, the capital markets concluded today’s trade in red as profit taking emerged at higher levels which brought the index down by 27 points to close at 46, 905 level, slight below 47,000 mark.

The index opened on a positive note and gained more than 400 points, but later on, bulls lost momentum on account of profit booking.

MARI remained in limelight and closed at upper lock as ECC allows removal of dividend distribution cap, a closing note by Ismail Iqbal Securities highlighted.

The Index traded in a range of 598.45 points or 1.28 percent of previous close, showing an intraday high of 47,341.58 and a low of 46,743.13.

Of the 98 traded companies in the KSE100 Index 40 closed up 57 closed down, while 1 remained unchanged. Total volume traded for the index was 238.32 million shares.

Sector wise, the index was let down by Commercial Banks with 37 points, Pharmaceuticals with 35 points, Technology & Communication with 29 points, Power Generation & Distribution with 18 points and Cement with 17 points.

The most points taken off the index was by TRG which stripped the index of 47 points followed by AGP with 19 points, MCB with 16 points, PAKT with 14 points and MLCF with 14 points.

Sectors propping up the index were Oil & Gas Exploration Companies with 119 points, Fertilizer with 21 points, Miscellaneous with 9 points, Food & Personal Care Products with 7 points and Chemical with 5 points.

The most points added to the index was by MARI which contributed 70 points followed by OGDC with 42 points, LUCK with 29 points, SYS with 18 points and ENGRO with 16 points.

All Share Volume decreased by 176.03 Million to 440.28 Million Shares. Market Cap increased by Rs.6.47 Billion.

Total companies traded were 430 compared to 438 from the previous session. Of the scrips traded 161 closed up, 248 closed down while 21 remained unchanged.

Total trades decreased by 24,568 to 177,699.

Value Traded decreased by 3.08 Billion to Rs.26.42 Billion

Copyright Mettis Link News