June 13, 2022 (MLN): The capital market on Monday opened on a positive note but soon after making an intraday high of 42, 070, the trading floor succumb to selling pressure on the back of investors’ concerns about the IMF’s program resumption.
Pakistan's finance minister said on Saturday that the International Monetary Fund (IMF) has expressed concern about the country's recently unveiled budget, but the government is confident it can make changes to satisfy the lender.
Pakistan is looking to get a staff-level agreement with the IMF this month, Miftah Ismail said.
Analyst fraternity is also of the view that IMF’s program resumption is crucial for the market’s stability.
Accordingly, the benchmark KSE-100 index ended the trading session with a 1134.80 point or 2.70 percent decline to close at 40,879.93.
The Index traded in a range of 1236.15 points or 2.94 percent of previous close, showing an intraday high of 42,069.65 and a low of 40,833.50.
Of the 94 traded companies in the KSE100 Index 8 closed up 82 closed down, while 4 remained unchanged. Total volume traded for the index was 62.71 million shares.
Sector-wise, the index was let down by Commercial Banks with 482 points, Oil & Gas Exploration Companies with 135 points, Cement with 98 points, Technology & Communication with 97 points and Fertilizer with 75 points.
The most points taken off the index were by UBL which stripped the index of 89 points followed by HBL with 88 points, BAHL with 76 points, MEBL with 74 points, and MCB with 69 points.
Sectors propping up the index were Automobile Assembler with 8 points and Close – End Mutual Fund with 3 points.
The most points added to the index was by MTL which contributed 14 points followed by HINOON with 5 points, HGFA with 3 points and AGP with 1 point.
All Share Volume increased by 47.92 Million to 163.79 Million Shares. Market Cap decreased by Rs.178.06 Billion.
Total companies traded were 331 compared to 315 from the previous session. Of the scrips traded 50 closed up, 263 closed down while 18 remained unchanged.
Total trades increased by 22,634 to 85,106.
Value Traded increased by 1.28 Billion to Rs.4.35 Billion
| Company | Volume |
|---|---|
| Hum Network | 24,561,500 |
| Cnergyico PK | 6,893,694 |
| K-Electric | 6,527,000 |
| Unity Foods | 6,377,021 |
| Pakistan Refinery | 6,206,119 |
| TPL Properties | 5,928,884 |
| Ghani Global Holdings | 5,897,831 |
| Media Times | 4,830,500 |
| Silkbank | 4,043,000 |
| Telecard | 3,910,000 |
| Sector | Volume |
|---|---|
| Technology & Communication | 45,333,859 |
| Commercial Banks | 14,958,468 |
| Refinery | 13,870,874 |
| Chemical | 13,432,248 |
| Cement | 10,743,344 |
| Food & Personal Care Products | 9,951,341 |
| Power Generation & Distribution | 7,966,088 |
| Oil & Gas Marketing Companies | 7,137,271 |
| Miscellaneous | 6,525,984 |
| Inv. Banks / Inv. Cos. / Securities Cos. | 4,888,400 |
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