Friday, January 22, 2021

KSE-100: After drastic dip of 814 points market close in green

Featured

Who is Joe Biden? – Learn more about the United States 46th President

Who is Joe Biden? The new American president was Barack Obama's deputy for eight years and a senator for...

Macron welcomes US back to the climate agreement

French President Emmanuel Macron tweeted on his Twitter account, directing the tweet to President Joe Biden and Vice President...

Nancy Pelosi: “We are ready to work under the slogan of a united America”

US House of Representatives Speaker Nancy Pelosi said, "We are ready to work under the slogan of a united...
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]

KSE 100 index showed first signs of recovery and that too on a day when SBP is scheduled to announce monetary policy.

- Advertisement -

Street consensus is of a 100bps hike, however, market seems to have incorporated it already. Buying activity was observed in index heavy weights after an initial plunge of 814pts.

Several stocks especially Cement sector, saw lower circuits. E&P Sector showed mixed reaction throughout the day, with OGDC trading above last trading day’s closing whereas PPL and POL saw attrition. PPL hit lower circuit, but recovered by the end of session.

Similarly, O&GMCs performed well and SSGC, SNGP were seen trading at upper circuits.

The Index closed at 33,250pts as against 33,166pts showing an increase of +84pts (+0.3% DoD).

Sectors contributing to the performance include Banks (+74pts), O&GMCs (+50pts), Fertilizer (+31pts), Transport (+18pts), Tobacco (+15pts) and E&P (-118pts).

- Advertisement -

Volumes increased significantly from 90mn shares to 166mn shares (+83% DoD). Similarly, Average traded value also doubled from US$ 21mn to US$ 41mn.

Stocks that contributed significantly to the volumes include KEL, TRG, UNITY, LOTCHEM and PIBTL, which formed 29% of total volumes.

Stocks that contributed positively include ENGRO (+44pts), HBL (+41pts), UBL (+33pts), PSO (+22pts) and PIBTL (+18pts).

Stocks that contributed negatively include PPL (-94pts), MCB (-26pts), OGDC (-22pts), FFC (-10pts) and MTL (-9pts).

Read also: Pakistan: MPS announced, policy rate up by 150 bps to 12.25 percent

- Advertisement -
Zain Zubair
Zain Zubair
Zain Zubair is a staff writer for World News Observer. He is studying ACCA in Pakistan. Besides Accountancy and writing pieces, he loves cooking and nature photography. Zain has attended various modern journalism workshops. Contact: [email protected]
- Advertisement -

Latest News

Who is Joe Biden? – Learn more about the United States 46th President

Who is Joe Biden? The new American president was Barack Obama's deputy for eight years and a senator for...

Macron welcomes US back to the climate agreement

French President Emmanuel Macron tweeted on his Twitter account, directing the tweet to President Joe Biden and Vice President Kamala Harris to welcome the...

Nancy Pelosi: “We are ready to work under the slogan of a united America”

US House of Representatives Speaker Nancy Pelosi said, "We are ready to work under the slogan of a united America". US President Joe Biden has...

Trump using presidential pardon to save potential allies

The renowned newspaper, USA Today, saw that President Donald Trump is using his power to save allies from legal risks, considering that he is...

Biden’s inauguration ceremony: Security on high alert in the American capital

The American capital has been in a state of security alert and tightening precautionary measures, with the approaching hour of the officially elected president...

Related News