Saturday, February 22, 2020

KSE-100 shed 52 points on profit taking

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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) shed 52 points or (0.13%) closed at 40,544 on Wednesday. Market opened on a positive note with +96pts carrying the optimism seen Tuesday. During the session, the market went up by 243pts after which selling pressure was observed. Cement Sector remained in the limelight, whereby LUCK remained under pressure and DGKC on the contrary traded in high volume and remained on the upper circuit.

Analysts at Arif Habib Limited said that the total traded volume in Cement sector was 39M shares, topped by FCCL, MLCF and DGKC. Among banking sector scrips, UBL traded in red whereas HBL and MCB remained unscathed. EPCL got the dent due to reduction in Regulatory Duty on PVC resin and the price came down near end of session.

The Index closed at 40,544pts as against 40,596pts showing a decline of 52pts (-0.1% DoD). Sectors contributing to the performance include Cement (+28pts), Autos (+12pts), Miscellaneous (-27pts), Fertilizer (-18pts), Banks (-16pts).

Volumes declined from 165mn shares to 160mn shares (-3% DoD). Average traded value however increased by 11% to reach US$ 52mn as against US$ 47mn.

Stocks that contributed significantly to the volumes include KEL, FCCL, MLCF, DGKC and TRG, which formed 34% of total volumes.

Stocks that contributed positively include DGKC (+22pts), MCB (+14pts), MLCF (+9pts), THALL (+8pts), and OGDC (+7pts). Stocks that contributed negatively include UBL (-32pts), PSEL (-27pts), ENGRO (-18pts), EPCL (-11pts) and LUCK (-10pts).

 

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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