October 6, 2021 (MLN): Selling pressure continued unabated at the local bourse today due to lack of trigger as bears remained dominant throughout the session leading the benchmark KSE-100 index to close in red.
The 100 index concluded the trading session with a loss of 293.34 points or 0.66 percent decline to close at 44,373.23.
Eye-watering commodity prices, especially Coal, have had their bearing on Cement and Steel sector stocks and had ripple effects on O&GMCs, E&P sectors due to concerns over a potential increase in circular debt emanating from rising energy costs, as per market closing note by Arif Habib Limited.
A key conditionality from IMF for resumption of the program has been an upward revision in electricity tariff, besides an end to subsidies and increase in tax revenues. These measures in part or whole are expected to dent earnings growth of the corporate sector in the coming quarters, which is reflecting on stock prices as well, it added.
The Index traded in a range of 509.02 points or 1.14 percent of previous close, showing an intraday high of 44,792.63 and a low of 44,283.61.
Of the 95 traded companies in the KSE100 Index 25 closed up 70 closed down, while 0 remained unchanged. Total volume traded for the index was 123.02 million shares.
Sector wise, the index was let down by Cement with 91 points, Textile Composite with 36 points, Commercial Banks with 35 points, Technology & Communication with 30 points and Fertilizer with 24 points.
The most points taken off the index was by HBL which stripped the index of 28 points followed by CHCC with 24 points, KTML with 20 points, LUCK with 19 points and ENGRO with 16 points.
Sectors propping up the index were Oil & Gas Exploration Companies with 36 points, Food & Personal Care Products with 3 points, Close – End Mutual Fund with 3 points, Real Estate Investment Trust with 1 points and Vanaspati & Allied Industries with 1 points.
The most points added to the index was by MARI which contributed 43 points followed by UBL with 22 points, MTL with 9 points, COLG with 5 points and NATF with 4 points.
All Share Volume decreased by 81.93 Million to 252.76 Million Shares. Market Cap decreased by Rs.52.20 Billion.
Total companies traded were 554 compared to 564 from the previous session. Of the scrips traded 109 closed up, 423 closed down while 22 remained unchanged.
Total trades decreased by 26,333 to 109,954.
Value Traded decreased by 3.46 Billion to Rs.10.08 Billion
| Company | Volume |
|---|---|
| Unity Foods | 25,715,446 |
| Telecard | 20,151,500 |
| Worldcall Telecom | 16,830,000 |
| Treet Corporation | 15,744,500 |
| Byco Petroleum Pakistan | 10,146,500 |
| Yousaf Weaving Mills | 8,352,500 |
| Silkbank | 7,847,500 |
| TRG Pakistan | 7,618,372 |
| Pioneer Cement | 5,913,800 |
| Aisha Steel Mills | 5,856,500 |
| Sector | Volume |
|---|---|
| Technology & Communication | 58,903,172 |
| Food & Personal Care Products | 44,829,606 |
| Commercial Banks | 21,387,588 |
| Cement | 21,283,252 |
| Refinery | 12,325,441 |
| Engineering | 9,347,522 |
| Textile Weaving | 9,136,000 |
| Chemical | 8,893,760 |
| Inv. Banks / Inv. Cos. / Securities Cos. | 8,319,833 |
| Textile Spinning | 7,622,500 |
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