Jul 06, 2021 (MNL): The domestic equity market opened on a positive note today but later on it succumbed to selling pressure due to the lack of positive triggers with the benchmark KSE-100 index losing 82.96 points or a 0.17 percent decline to close at 47,346.16.

According to the closing note by Topline Securities, the selling is attributable to the announcement of collection of Capital Gains Tax (CGT) for the period 11MFY21 which resulted in liquidity selling by market participants.

Furthermore, higher international oil prices weighed on inflation expectations while uncertainty over Pakistan-US relations kept the investors on the sidelines.

The cement sector caught investors' attention as the south-based players increased the cement prices by Rs25/bag while North players are expected to follow suit. The sector on a whole saw a total turnover of 23.93mn shares and closed up 0.31%, it added.

The Index traded in a range of 417.75 points or 0.88 percent of previous close, showing an intraday high of 47,662.68 and a low of 47,244.93.

Of the 95 traded companies in the KSE100 Index, 30 closed up 62 closed down, while 3 remained unchanged. The total volume traded for the index was 213.11 million shares.

Sector-wise, the index was let down by Power Generation & Distribution with 54 points, Technology & Communication with 35 points, Food & Personal Care Products with 33 points, Refinery with 32 points and Textile Composite with 25 points.

The most points taken off the index was by HUBC which stripped the index of 48 points followed by TRG with 30 points, NRL with 21 points, UNITY with 17 points and SNGP with 13 points.

Sectors propping up the index were Commercial Banks with 49 points, Fertilizer with 28 points, Cement with 18 points, Tobacco with 12 points and Pharmaceuticals with 12 points.

The most points added to the index was by HBL which contributed 50 points followed by AGP with 20 points, KOHC with 17 points, ENGRO with 17 points and PSO with 15 points.

All Share Volume increased by 46.78 Million to 541.31 Million Shares. Market Cap decreased by Rs.22.81 Billion.

Total companies traded were 413 compared to 411 from the previous session. Of the scrips traded 125 closed up, 271 closed down while 17 remained unchanged.

Total trades increased by 13,896 to 160,052.

Value Traded increased by 2.24 Billion to Rs.17.61 Billion

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