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PSX Closing Bell: Tempest in a Teapot

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Jun 14, 2021 (MLN): Following the budget announcement on Friday, the stock market commenced trading on a positive note, where investor buying was witnessed across the board.

At the end of the trading, stock added 421 points to the benchmark KSE-100 index to settle at 48.726 level mainly due to multiple incentives announced in budget. The major incentive is reduction in capital gain tax (CGT) from15% to12.5% which has cushioned the investors’ interest in market.

Moreover, reduction in GST on 850cc or lower capacity vehicles, tax incentives to refineries, reduction in turn over tax to 1.25%, allocation of record PSDP of Rs900bn, removal of WHT on cash withdrawals, also boosted investors’ sentiments.

The Index remained positive throughout the session touched an intraday high of 48,986.94 points.

Of the 96 traded companies in the KSE100 Index 60 closed up 34 closed down, while 2 remained unchanged. Total volume traded for the index was 507.49 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 201 points, Cement with 92 points, Engineering with 52 points, Commercial Banks with 42 points and Oil & Gas Marketing Companies with 32 points.

The most points added to the index was by OGDC which contributed 105 points followed by PPL with 68 points, SYS with 44 points, INIL with 27 points and POL with 25 points.

Sector wise, the index was let down by Fertilizer with 43 points, Textile Composite with 27 points, Technology & Communication with 21 points, Food & Personal Care Products with 16 points and Chemical with 5 points.

The most points taken off the index was by TRG which stripped the index of 61 points followed by FFC with 27 points, UNITY with 17 points, FFBL with 13 points and NRL with 10 points.

All Share Volume increased by 193.62 Million to 1217.85 Million Shares. Market Cap increased by Rs.99.02 Billion.

Total companies traded were 413 compared to 413 from the previous session. Of the scrips traded 238 closed up, 161 closed down while 14 remained unchanged.

Total trades increased by 70,895 to 281,632.

Value Traded increased by 17.97 Billion to Rs.42.85 Billion

Top Ten by Volume

Company

Volume

Byco Petroleum Pakistan

109,211,000

Hum Network

108,394,500

Worldcall Telecom

98,041,000

Aisha Steel Mills

40,572,500

Agritech

39,078,500

Pakistan Refinery

38,734,500

Pakistan Petroleum

32,605,159

Hascol Petroleum

30,378,910

Ghani Global Holdings

28,921,500

K-Electric

28,725,000

 

Top Sector by Volume

Sector

Volume

Technology & Communication

279,942,238

Refinery

159,844,500

Chemical

90,821,280

Food & Personal Care Products

83,098,391

Engineering

77,448,422

Cement

72,493,951

Oil & Gas Marketing Companies

60,592,489

Oil & Gas Exploration Companies

58,537,966

Power Generation & Distribution

44,573,368

Commercial Banks

37,761,262

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Posted on: 2021-06-14T17:48:00+05:00

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