PSX Closing Bell: Castles Made of Sand..

November 27, 2020 (MLN): The stock market turned bearish on Friday as it surrendered to the profit-taking activity owing to future rollover week which comes to an end.

 Accordingly, the benchmark KSE-100 Index recorded a negative close of 224 points to settle at 40,807 level. Moreover, investors also reacted to the announcement by OGDC in which the company informed regarding discovery of gas from its exploratory well Lakhirud X-1.

The Index traded in a range of 315.59 points or 0.77 percent of previous close, showing an intraday high of 41,067.13 and a low of 40,751.54.

Of the 97 traded companies in the KSE100 Index 35 closed up 58 closed down, while 4 remained unchanged. Total volume traded for the index was 247.89 million shares.

Sector wise, the index was let down by Oil & Gas Exploration Companies with 86 points, Cement with 51 points, Fertilizer with 38 points, Commercial Banks with 31 points and Oil & Gas Marketing Companies with 23 points.

The most points taken off the index was by PPL which stripped the index of 33 points followed by LUCK with 28 points, OGDC with 24 points, ENGRO with 22 points and HUBC with 17 points.

Sectors propping up the index were Technology & Communication with 45 points, Automobile Assembler with 13 points, Chemical with 12 points, Vanaspati & Allied Industries with 7 points and Refinery with 3 points.

The most points added to the index was by TRG which contributed 40 points followed by MTL with 17 points, COLG with 11 points, UNITY with 7 points and SCBPL with 4 points.

All Share Volume increased by 8.60 Million to 397.79 Million Shares. Market Cap decreased by Rs.20.08 Billion.

Total companies traded were 394 compared to 405 from the previous session. Of the scrips traded 195 closed up, 181 closed down while 18 remained unchanged.

Total trades decreased by 14,188 to 127,373.

Value Traded decreased by 2.87 Billion to Rs.13.16 Billion

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