Tuesday, January 19, 2021

KSE-100 sheds 403 points on selling pressure

Featured

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac,...
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 (PSX) continued its downward trend that it picked earlier last week and gave no regard to the initial signs of recovery seen on Friday. Unlike past several sessions, the market opened on a downbeat with -12pts and the number kept growing to the downside till session’s end.

- Advertisement -

Market saw a total draw down of -479pts and closed -448pts (unadjusted). Also, the traded volume registered lowest levels in recent times.

Major contribution to traded volumes was observed in Power Sector (KEL), followed by Banks (BOP, BAFL). Prime Minister’s reference to large oil & gas discovery in Indus Offshore didn’t entice investors to take a large bet on OGDC/PPL and remained content on market price.

The Index closed at 38,129pts as against 38,532pts showing a decline of 403pts (-1.0% DoD). Sectors contributing to the performance include E&P (-98pts), Cement (-64pts), Fertilizer (-63pts), Power (-29pts), Banks (-25pts).

Analysts at Arif Habib Limited said that the volumes declined significantly to 56.4mn shares from 84.6mn shares (-33% DoD). Average traded value also declined by 40% to reach US$ 19mn as against US$ 31.5mn.

Stocks that contributed significantly to the volumes include KEL, WTL, BOP, OGDC and BAFL, which formed 32% of total volumes.

- Advertisement -

Stocks that contributed positively include PMPK (+10pts), MUREB (+5pts), PAKT (+4pts), HMB (+3pts), and MCB (+2pts).

Stocks that contributed negatively include OGDC (-35pts), LUCK (-33pts), PPL (-29pts), POL (-24pts) and ENGRO (-21pts).

- 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

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined...

As You Likee: Express more, Create more with Likee’s In-App Features

The online short videos platform is rapidly becoming the content production application of choice for hundreds of thousands of Pakistanis to showcase their creativity,...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend the democracy of the United...

Indonesia proposed a budget of 1.5 billion dollars for Chinese Sinovac vaccine

Indonesia has proposed a budget of 20.9 trillion rupees ($ 1.49 billion) to buy the Coronavirus vaccine from Sinovac, the Indonesian health minister said...

IFN declares SBP as top central bank for promoting Islamic finance

State Bank of Pakistan (SBP) has been voted as the Best Central Bank in promoting Islamic finance for the fourth time by a poll...

Related News