PSX Closing Bell: Hesitation Marks

April 12, 2021 (MLN): The capital market started the first day of the week on a volatile note after last week’s alternating frenzy of bulls and bears. The market initially cheered the strong inflows from overseas Pakistani in the form of remittances that clocked in at $2.72 billion. However, later, investors in the market found themselves under the influence of bearish sentiments amid rising virus severity.

Accordingly, the benchmark KSE-100 index ended the trading session on Monday with a 208.43 point or 0.46 percent decline to close at 44,978.05.

As per the closing note by Topline securities, the market saw selling pressure during the trading session which was primarily caused by concerns over COVID-19 lockdowns in cities where the infection ratio is above 15%.

The Index traded in a range of 511.37 points or 1.13 percent of the previous close, showing an intraday high of 45,268.68 and a low of 44,757.31.

Of the 94 traded companies in the KSE100 Index, 25 closed up 67 closed down, while 2 remained unchanged. The total volume traded for the index was 173.42 million shares.

Sector-wise, the index was let down by Oil & Gas Marketing Companies with 36 points, Commercial Banks with 32 points, Pharmaceuticals with 26 points, Chemical with 23 points and Cement with 23 points.

The most points taken off the index was by ENGRO which stripped the index of 44 points followed by PSO with 25 points, OGDC with 22 points, SEARL with 21 points and UBL with 16 points.

Sectors propping up the index were Technology & Communication with 89 points, Real Estate Investment Trust with 3 points, Paper & Board with 2 points and Leasing Companies with 1 points.

The most points added to the index was by TRG which contributed 98 points followed by FFC with 24 points, MCB with 19 points, EFERT with 12 points and LUCK with 6 points.

All Share Volume decreased by 184.51 Million to 503.53 Million Shares. Market Cap decreased by Rs.57.58 Billion.

Total companies traded were 387 compared to 404 from the previous session. Of the scrips traded 130 closed up, 234 closed down while 23 remained unchanged.

Total trades decreased by 21,384 to 160,077.

Value Traded decreased by 5.37 Billion to Rs.19.97 Billion

Copyright Mettis Link News