Wednesday, February 19, 2020

KSE 100 sheds 41 points on investors lackluster behaviour

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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 on Friday downed by 41.20 points or (-0.11%) closed at 39049 on investors lackluster behavior.

 

 

Largely the index remained where it started. The opening bell saw an increase of 26pts with 0.4M shares volume and the second session ended at 41pts down.

 

E&P sector that rallied in the past couple of sessions remained timid throughout the day. Investors maintained cautious view on Oil sector, whereas fertilizer sector jumped significantly on the news of reduction in GIDC by 50%.

 

Resultantly, FFC and FFBL hit upper circuit where other fertilizer sector scrips also showed improved price performance. EPCL saw negative price performance due to the news of fire breaking out at the plant, but recovered to some extent by session’s end.

 

The Index closed at 39,049pts as against 39,090pts showing a decline of 41pts (-0.1% DoD). Sectors contributing to the performance include Pharma (+46pts), Fertilizer (+23pts), Cement (-28pts), Tobacco (-25pts), O&GMCs (-22pts), Chemical (-20pts), Autos (-17pts). Volumes increased from 112mn shares to 123mn shares (+10% DoD).

 

Average traded value however, increased significantly from US$ 33mn to US$ 45.7mn (+38% DoD). Stocks that contributed significantly to the volumes include KEL< SSGC, TRG, PAEL and EFERT, which formed 35% of total volumes.

 

Stocks that contributed positively include FFC (+72pts), HBL (+29pts), SEARL (+22pts), POL (+17pts), and ABOT (+13pts). Stocks that contributed negatively include ENGRO (-46pts), DAWH (-28pts), PAKT (-25pts), MTL (-17pts) and LUCK (-14pts).

 

 

 

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: z[email protected]

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