Saturday, February 22, 2020

KSE-100 shed 109 points on profit booking

Featured

US official: Corona’s outbreak will not change China’s commitment to buy US goods

A senior US Treasury official said on Thursday that the US government expects China to fulfill its commitment to...

China: Corona virus death toll rises to 2239, and 75,567 infections

China’s National Health Committee announced on Friday that it has received reports of 889 new confirmed cases of the...

A major reshuffle in the British Government

Several British government ministers have been fired in a drastic reshuffle by Prime Minister Boris Johnson. The list includes...
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]

Latest News

Trump adviser Roger Stone sentenced to 3 years in prison for lying

A federal judge issued a ruling on Thursday against Roger Stone, a longtime adviser to US President Donald Trump,...

US official: Corona’s outbreak will not change China’s commitment to buy US goods

A senior US Treasury official said on Thursday that the US government expects China to fulfill its commitment to purchase more US goods under...

Voting begins in Iran’s parliamentary elections

The Iranians began voting on Friday in a parliamentary election that is unlikely to change Tehran's troubled relations with the United States, after excluding...

Austrian Parliament: There is no place for ISIS operatives in the country

Herbert Kickel, head of the Parliamentary Bloc of the Freedom Party (the third largest Austrian party), confirmed that anyone who joined the terrorist group...

Reports of Russian intervention supporting Trump in the US 2020 elections

Informed sources reported that Shelby Pearson, the chief election security official in US intelligence, had warned lawmakers that Russian intelligence was taking steps to...

Related News