September 22, 2021 (MLN): Bears wreaked havoc at the market on Wednesday as it continued to tread lower right from the opening bell.
During intraday, the index slid deeper into red and lost over 950 points as the market was weighed by the news that the government has decided to control imports by increasing duties on major non-essential items to curb demand.
However, the index managed to recover some of its losses at the end of the trading session and closed at 45,597 level after shedding 411 points.
According to a report by Arif Habib Limited, leveraged positions of retail investors played havoc on market today, which received margin calls after continuous declines witnessed in the Index for the past couple of sessions.
Besides, negative news flow relating to MCB Bank employee having implication in Money Laundering case, also dented the sentiment. Technology and Refinery sectors got hurt the most, however, selling pressure was also observed in Cement, Steel, Fertilizer, Banks and E&P sectors, it added.
The Index traded in a range of 1243.72 points or 2.70 percent of previous close, showing an intraday high of 46,031.89 and a low of 44,788.17.
Of the 97 traded companies in the KSE100 Index 24 closed up 69 closed down, while 4 remained unchanged. Total volume traded for the index was 227.49 million shares.
Sector wise, the index was let down by Technology & Communication with 77 points, Oil & Gas Exploration Companies with 40 points, Textile Composite with 38 points, Fertilizer with 35 points and Refinery with 33 points.
The most points taken off the index was by TRG which stripped the index of 38 points followed by SYS with 38 points, HBL with 25 points, UBL with 20 points and CHCC with 16 points.
Sectors propping up the index were Engineering with 6 points and Glass & Ceramics with 1 points.
The most points added to the index was by MEBL which contributed 26 points followed by MCB with 11 points, SNGP with 9 points, FCCL with 9 points and BAHL with 7 points.
All Share Volume increased by 257.85 Million to 583.73 Million Shares. Market Cap decreased by Rs.65.14 Billion.
Total companies traded were 525 compared to 519 from the previous session. Of the scrips traded 99 closed up, 413 closed down while 13 remained unchanged.
Total trades increased by 55,132 to 169,996.
Value Traded increased by 5.01 Billion to Rs.17.33 Billion
| Company | Volume |
|---|---|
| Worldcall Telecom | 91,050,500 |
| Azgard Nine | 36,194,500 |
| Hum Network | 34,077,500 |
| Byco Petroleum Pakistan | 33,465,000 |
| Telecard | 26,767,500 |
| Hascol Petroleum | 18,896,530 |
| Silkbank | 14,158,000 |
| Unity Foods | 14,004,443 |
| Ghani Global Holdings | 13,993,500 |
| TPL Corp | 13,316,000 |
| Sector | Volume |
|---|---|
| Technology & Communication | 203,728,271 |
| Textile Composite | 46,594,100 |
| Commercial Banks | 41,826,203 |
| Refinery | 39,214,275 |
| Food & Personal Care Products | 31,347,243 |
| Cement | 28,622,704 |
| Oil & Gas Marketing Companies | 28,009,553 |
| Chemical | 22,641,710 |
| Engineering | 18,012,874 |
| Power Generation & Distribution | 17,981,719 |
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