PSX Closing Bell: No Particular Place to Go..

November 30, 2020 (MLN): The benchmark KSE-100 gained nearly 261 points in today’s session and concluded the trading at 41,068 points i.e. up by 0.64% compared to previous session’s close.

According to Arif Habib Limited, market opened on a negative note with -24pts and slipped a total of 137pts during the session, before Banking sector took the front seat and drove the index to recover the intra-day loss and put together an increase of 308 pts. Meanwhile, it is important to note that for over half the day, index remained within 0.2% of the previous close.

Moreover, growing covid-19 cases, kept the upside incheck despite positive news flow on economic front as ADB approved loan worth USD 300 mln which will strengthen Forex Reserves.

In addition to this, PSO remained in limelight today owing to its proposal submitted to ECC for clearance of PKR 100bn circular debt through equity swap, closing report by Ismail Iqbal Securities highlighted.

The Index traded in a range of 445.61 points or 1.09 percent of previous close, showing an intraday high of 41,115.10 and a low of 40,669.49.

Of the 93 traded companies in the KSE100 Index 68 closed up 25 closed down, while 0 remained unchanged. Total volume traded for the index was 184.49 million shares.

Sectors propping up the index were Technology & Communication with 57 points, Commercial Banks with 50 points, Oil & Gas Marketing Companies with 48 points, Cement with 36 points and Oil & Gas Exploration Companies with 25 points.

The most points added to the index was by TRG which contributed 49 points followed by PSO with 39 points, MCB with 22 points, UBL with 20 points and LUCK with 20 points.

Sector wise, the index was let down by Fertilizer with 33 points, Power Generation & Distribution with 15 points, Tobacco with 11 points, Automobile Parts & Accessories with 1 points and Leather & Tanneries with 1 points.

The most points taken off the index was by BAHL which stripped the index of 16 points followed by ENGRO with 16 points, PAKT with 11 points, FFC with 11 points and KEL with 7 points.

All Share Volume decreased by 9.24 Million to 388.55 Million Shares. Market Cap increased by Rs.34.25 Billion.

Total companies traded were 368 compared to 394 from the previous session. Of the scrips traded 230 closed up, 122 closed down while 16 remained unchanged.

Total trades decreased by 5,174 to 122,199.

Value Traded increased by 0.90 Billion to Rs.14.06 Billion

Copyright Mettis Link News