March 9, 2021 (MLN): Domestic equities rout deepened on Tuesday, on concerns over rising inflation and political uncertainty. Accordingly, the benchmark KSE-100 index shed further 828 points and closed the trading at 44,223 points, i.e. 1.84% lower than the previous session’s close.
The index slid deeper into red and broke below 44,000 resistance during intraday, however, it managed to recover some of its losses at the end of the trading session.
Rising political uncertainty over Senate’s chairmanship and PDM’s planned long march towards federal capital shattered investors’ confidence, a closing note by Aba Ali Habib Securities cited.
Furthermore, inflation concerns over increasing commodities prices and rising yields on government papers also exacerbated investors’ worries.
The Index traded in a range of 1189.67 points or 2.64 percent of previous close, showing an intraday high of 45,130.55 and a low of 43,940.88.
Of the 98 traded companies in the KSE100 Index 14 closed up 82 closed down, while 2 remained unchanged. Total volume traded for the index was 231.67 million shares.
Sector-wise, the index was let down by Cement with 192 points, Technology & Communication with 146 points, Oil & Gas Exploration Companies with 73 points, Textile Composite with 71 points and Oil & Gas Marketing Companies with 62 points.
The most points taken off the index was by TRG which stripped the index of 93 points followed by SYS with 50 points, DGKC with 47 points, LUCK with 43 points and PSO with 39 points.
Sectors propping up the index were Commercial Banks with 20 points.
The most points added to the index was by UBL which contributed 23 points followed by MCB with 8 points, MARI with 8 points, HBL with 8 points and BAHL with 8 points.
All Share Volume increased by 32.44 Million to 492.31 Million Shares. Market Cap decreased by Rs.152.03 Billion.
Total companies traded were 419 compared to 405 from the previous session. Of the scrips traded 58 closed up, 343 closed down while 18 remained unchanged.
Total trades increased by 7,134 to 174,382.
Value Traded decreased by 1.32 Billion to Rs.23.43 Billion
| Company | Volume |
|---|---|
| Ghani Global Holdings | 41,233,500 |
| Unity Foods | 33,334,835 |
| TRG Pakistan | 25,522,059 |
| Worldcall Telecom | 19,446,500 |
| Pakistan Refinery | 18,857,500 |
| Byco Petroleum Pakistan | 16,176,000 |
| Azgard Nine | 15,892,000 |
| Fauji Fertilizer Bin Qasim | 14,676,000 |
| K-Electric | 13,915,500 |
| Kot Addu Power Company | 12,424,500 |
| Sector | Volume |
|---|---|
| Technology & Communication | 77,218,659 |
| Chemical | 51,011,990 |
| Cement | 48,623,758 |
| Food & Personal Care Products | 44,224,065 |
| Refinery | 43,823,100 |
| Commercial Banks | 34,271,661 |
| Power Generation & Distribution | 31,217,729 |
| Textile Composite | 26,760,000 |
| Engineering | 25,989,660 |
| Fertilizer | 19,230,221 |
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