PSX Closing Bell: Fooled by Randomness

February 21, 2022 (MLN): Pakistan’s stock market remained under pressure today as it concluded the session on a negative note, declining by 313 points or 0.7% DoD to settle at 45,363 points.

“Local indices witnessed bearish spell as negative sentiments stemmed from from consistent political uncertainty prevailing in the country. The uncertain situation going on between Russia and Ukraine remains ambiguous which dented the market sentiments,” post-market note by Aba Ali Habib Securities noted.

On the flip side, robust corporate results of FCCL, NML, NCPL, and MEBL outperformed the market expectations which has limited the downside movement of the index.

The Index traded in a range of 401.54 points or 0.88 percent of previous close, showing an intraday high of 45,743.60 and a low of 45,342.06.

Of the 89 traded companies in the KSE100 Index 18 closed up 69 closed down, while 2 remained unchanged. Total volume traded for the index was 62.16 million shares.

Sector wise, the index was let down by Commercial Banks with 65 points, Cement with 45 points, Oil & Gas Exploration Companies with 37 points, Technology & Communication with 31 points and Power Generation & Distribution with 25 points.

The most points taken off the index was by MEBL which stripped the index of 28 points followed by TRG with 24 points, LUCK with 23 points, MARI with 21 points and UBL with 16 points.

Sectors propping up the index were Real Estate Investment Trust with 4 points and Insurance with 2 points.

The most points added to the index was by BAHL which contributed 13 points followed by DCR with 4 points, FATIMA with 4 points, NCL with 3 points and ABOT with 2 points.

All Share Volume decreased by 56.39 Million to 137.66 Million Shares. Market Cap decreased by Rs.51.76 Billion.

Total companies traded were 339 compared to 333 from the previous session. Of the scrips traded 95 closed up, 225 closed down while 19 remained unchanged.

Total trades increased by 781 to 67,360.

Value Traded decreased by 0.70 Billion to Rs.3.61 Billion

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