Tuesday, October 20, 2020

KSE-100 ends in green despite blue chip selling

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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]

First day of Ramadan started on a positive note, went up by 200pts and ended in green zone with 42pts (unadjusted).

Nonetheless, several scrips including blue chips saw aggressive selling at bourse, such as SNGP, PSO, OGDC, KEL, HUBC etc.

Banking sector, on the contrary, performed well with HBL closing near upper circuit whereas UBL was also seen trading near upper circuit.

Banking sector topped with 12.4M shares, followed by Power (12M). Among scrips, KEL ranked first with 9.6M shares, followed by BOP (5.3M).

Other scrips which generated volumes include SNGP, MLCF, HUBCR, and LOTCHEM. The Index closed at 35,631pts as against 35,605pts showing an increase of 25pts (+0.1% DoD).

Sectors contributing to the performance include Banks (+190pts), Food (+17pts), Cement (-44pts), O&GMCs (-29pts), Power (-28pts), E&P (-21pts), Pharma (-16pts).

Volumes declined again from 71.4mn shares to 65.4mn (-8% DoD). Average traded value also declined by 13% to reach US$ 19.4mn as against US$ 22.4mn.

Stocks that contributed significantly to the volumes include KEL, BOP, SNGP, MLCF and HUBCR, which formed 37% of total volumes.

Stocks that contributed positively include HBL (+86pts), UBL (+54pts), MCB (+28pts) NESTLE (+22pts) and NBP (+14pts).

Stocks that contributed negatively include LUCK (-21pts), SEARL (-18pts), HUBC (-15pts), PSO (-13pts) and ENGRO (-12pts).

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]

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