PSX Closing Bell: Lost for Words

November 26, 2021 (MLN): Bulls regained control of the bourse on Friday, snapped a four-day losing streak to add over 178 points to benchmark. The KSE-100 index traded between high and low of 44,333.71 and 43,735.71 points before closing at 44,114 level.

Trading in bourse began on a strong note as investors perceived that last leg of foreign selling spree was completed on the last trading day.

However, forecast of investors failed as foreign selling continued and led the market back to red territory. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks, a closing note by Arif Habib Limited cited.

On the flip side, in the second session institutional buyers started fetching value stocks due to attractive multiples which led the market to close in green zone, it added.

In addition, the recovery was also attributed to the slump in international commodities prices due to newly discovered covid-19 variant.

Of the 90 traded companies in the KSE100 Index 43 closed up 45 closed down, while 2 remained unchanged. Total volume traded for the index was 116.97 million shares.

Sectors propping up the index were commercial banks with 74 points, power generation & distribution with 54 points, fertilizer with 48 points, cement with 34 points and pharmaceuticals with 15 points.

The most points added to the index was by HUBC which contributed 50 points followed by HBL with 34 points, LUCK with 33 points, SYS with 27 points and ENGRO with 25 points.

Sector wise, the index was let down by oil & gas exploration companies with 65 points, food & personal care products with 9 points, engineering with 8 points, transport with 2 points and inv. banks / inv. cos. / securities cos. with 2 points.

The most points taken off the index was by PPL which stripped the index of 20 points followed by OGDC with 19 points, TRG with 15 points, MARI with 14 points and POL with 11 points.

All Share volume increased by 94.67 Million to 289.85 million shares. Market cap increased by Rs.13.77 billion.

Total companies traded were 338 compared to 328 from the previous session. Of the scrips traded 175 closed up, 146 closed down while 17 remained unchanged.

Total trades increased by 22,996 to 113,249.

Value traded increased by 1.88 billion to Rs.10.27 billion

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