February 28, 2023 (MLN): The capital market on Tuesday started the day on a positive note but it didn't take long for the bears to take over and push the index into the red zone for most of the trading session.
With an anticipated rate hike in the upcoming monetary policy and political instability looming, investors were understandably cautious and on the lookout for value stocks with high dividend yields.
As a result, the benchmark KSE-100 index ended the trading session with a loss of 273.76 points or 0.67 percent decline to close at 40,510.37.
The Index traded in a range of 410.15 points or 1.01 percent of the previous close, showing an intraday high of 40,854.82 and a low of 40,444.67.
Of the 94 traded companies in the KSE100 Index 17 closed up 74 closed down, while 3 remained unchanged. The total volume traded for the index was 68.77 million shares.
Sector-wise, the index was let down by Oil & Gas Exploration Companies with 150 points, Technology & Communication with 95 points, Oil & Gas Marketing Companies with 42 points, Cement with 18 points, and Chemical with 14 points.
The most points taken off the index were by SYS which stripped the index of 71 points followed by OGDC with 56 points, PPL with 50 points, POL with 43 points, and PSO with 31 points.
Sectors propping up the index were Miscellaneous with 68 points, Commercial Banks with 38 points, Automobile Assembler with 11 points, and Fertilizer with 2 points.
The most points added to the index were by PSEL which contributed 67 points followed by HMB with 24 points, BAFL with 16 points, ENGRO with 14 points, and UPFL with 12 points.
All Share Volume decreased by 31.77mn to 126.32mn shares. Market Cap decreased by Rs44.11 billion.
The total companies traded were 334 compared to 331 from the previous session. Of the scrips traded 82 closed up, 234 closed down while 18 remained unchanged.
Total trades increased by 1,584 to 80,500.
Value Traded decreased by 0.07bn to Rs5.65bn.
| Company | Volume |
|---|---|
| Worldcall Telecom | 18,527,406 |
| Oil & Gas Development Company | 5,333,028 |
| TPL Properties | 4,479,369 |
| The Hub Power Company | 4,451,435 |
| TRG Pakistan | 4,301,122 |
| K-Electric | 3,949,292 |
| Pakistan Petroleum | 3,540,130 |
| Fauji Cement Company | 3,260,500 |
| Interloop | 3,227,439 |
| Cnergyico PK | 2,900,095 |
| Sector | Volume |
|---|---|
| Technology & Communication | 27,834,605 |
| Commercial Banks | 14,591,307 |
| Power Generation & Distribution | 14,273,953 |
| Cement | 10,983,555 |
| Oil & Gas Exploration Companies | 9,920,954 |
| Refinery | 6,068,321 |
| Oil & Gas Marketing Companies | 5,816,092 |
| Property | 4,677,369 |
| Textile Composite | 4,559,696 |
| Transport | 3,860,900 |
Copyright Mettis Link News
Posted on: 2023-02-28T17:59:23+05:00
