PSX Closing Bell: Greedy Caterpillars

December 16, 2020 (MLN): The capital market witnessed high volatility as it encountered some profit-taking activity, with the benchmark KSE-100 index gaining only 109.35 points and closed at 43,360-level i.e. up by 0.25% compared to yesterday’s close.

The market faced selling pressure at various points throughout the session. This was mainly due to large buying activity witnessed yesterday upon which investors resorted to selling in today’s session as per Aba Ali Habib’s closing note.

The Index traded in a range of 381.62 points or 0.88 percent of the previous close, showing an intraday high of 43,556.97 and a low of 43,175.35.

Of the 96 traded companies in the KSE100 Index, 46 closed up 48 closed down, while 2 remained unchanged. The total volume traded for the index was 252.47 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 90 points, Technology & Communication with 49 points, Fertilizer with 47 points, Textile Composite with 20 points and Commercial Banks with 18 points.

The most points added to the index was by OGDC which contributed 55 points followed by SYS with 46 points, ENGRO with 38 points, PPL with 27 points and BAHL with 23 points.

Sector wise, the index was let down by Cement with 53 points, Power Generation & Distribution with 22 points, Oil & Gas Marketing Companies with 21 points, Automobile Assembler with 17 points and Refinery with 11 points.

The most points taken off the index was by UBL which stripped the index of 18 points followed by LUCK with 13 points, DGKC with 12 points, MLCF with 11 points and MTL with 10 points.

All Share Volume decreased by 269.19 Million to 433.02 Million Shares. Market Cap increased by Rs.22.12 Billion.

Total companies traded were 403 compared to 418 from the previous session. Of the scrips traded 171 closed up, 212 closed down while 20 remained unchanged.

Total trades decreased by 62,724 to 161,371.

Value Traded decreased by 7.82 Billion to Rs.21.38 Billion

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