Wednesday, October 21, 2020

KSE-100 shed 109 points on profit booking

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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]
The benchmark KSE-100 index of Pakistan Stock Exchange (PSE) on Wednesday dropped 109 points or (- 0.26%) on profit booking.

 

Market performed well on Wednesday with an increase of 153pts but faced profit booking too causing the index to drop by 197pts.

 

Analysts at Arif Habib Limited said that the market leap frogged due to buying in Cement Sector, which saw volumes of 48M by day end, followed by Chemical Sector.

 

Key scrips in Cement sector that generated trading volume include FCCL, MLCF and DGKC.

 

Among Chemical sector, EPCL traded ~6M shares however, the price declined by ~3% by sessions end. Banks and Textile sector scrips remained on the back burner but value buying was observed.

 

The Index closed at 41,505pts as against 41,614pts showing a decline of 109pts (-0.3% DoD).

 

Sectors contributing to the performance include Banks (-101pts), E&P (-38pts), O&GMCs (-35pts), Chemical (-16pts), Fertilizer (+56pts), Cement (-30pts), Autos (-26pts).

 

Volumes declined from 254mn shares to 205mn shares (-19% DoD). Average traded value remained largely the same at US$ 71mn.

 

Stocks that contributed significantly to the volumes include FCCL, MLCF, DGKC, BOP, PIBTL and PASL, which formed 24% of total volumes.

 

Stocks that contributed positively include FFC (+26pts), EFERT (+17pts), INDU (+14pts), ENGRO (+13pts), and DGKC (+11pts).

 

Stocks that contributed negatively include HBL (-25pts), PPL (-24pts), BAHL (-23pts), OGDC (-23pts) and PSO (-17pts).

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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