Wednesday, January 27, 2021

Pakistan: KSE-100 sheds 391 points on profit booking

Featured

US aircraft carrier enters South China Sea amid tensions over Taiwan

The US military said on Sunday that the aircraft carrier group Theodore Roosevelt has entered the South China Sea...

India administered one million doses of Corona vaccine within 6 days

Today, the Indian Ministry of Health announced the completion of the distribution of one million doses for the emerging...

Who is Joe Biden? – Learn more about the United States 46th President

Who is Joe Biden? The new American president was Barack Obama's deputy for eight years and a senator for...
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 of Pakistan Stock Exchange (PSX) declined by 391 points or (-1.05%) closed at 36,901.69 on Monday. Profit booking was apparently the only idea on investors’ mind. SNGP, which hit upper circuit the other day with high volume was scheduled to announce financial results on Monday.

- Advertisement -

Although SNGP beat street consensus and did hit upper circuit on Monday, it couldn’t sustain selling pressure and price went below last trading day’s closing price.

LOTCHEM retained investors’ interest and despite trading below upper circuit several times, it managed to close at upper circuit.

Overall, the index lost 453pts during the session besides marking +187pts in the beginning. Cement sector led the volumes with 24M shares, followed by Chemical (21.8M) and Banks (12.5M).

Among scrips, LOTCHEM topped the chart with 19.7M shares, followed by PIOC (10.6M).

The Index closed at 36,902pts as against 37,292pts showing a decline of 391pts (-1% DoD).

- Advertisement -

Sectors contributing to the performance include Banks (-118pts), E&P (-40pts), Fertilizer (-37pts), Cement (-29pts), Power (-27pts).

Volumes declined considerably from 177.4mn shares to 125.9mn shares (-29% DoD).

Average traded value also declined by 33% to reach US$ 31.3mn as against US$ 46.9mn.

Stocks that contributed significantly to the volumes include LOTCHEM, PIOC, KEL, SNGP and PAEL, which formed 45% of total volumes.

Stocks that contributed positively include LOTCHEM (+8pts), INDU (+2pts), DCR (+2pts), ICI (+2pts), and PKGS (+2pts).

Stocks that contributed negatively include HBL (-56pts), PPL (-22pts), MCB (-20pts), LUCK (-18pts) and FFC (-17pts).

 

- 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

US aircraft carrier enters South China Sea amid tensions over Taiwan

The US military said on Sunday that the aircraft carrier group Theodore Roosevelt has entered the South China Sea...

India administered one million doses of Corona vaccine within 6 days

Today, the Indian Ministry of Health announced the completion of the distribution of one million doses for the emerging coronavirus (Covid-19) vaccine within six...

Who is Joe Biden? – Learn more about the United States 46th President

Who is Joe Biden? The new American president was Barack Obama's deputy for eight years and a senator for 36 years. Famous for his...

Macron welcomes US back to the climate agreement

French President Emmanuel Macron tweeted on his Twitter account, directing the tweet to President Joe Biden and Vice President Kamala Harris to welcome the...

Nancy Pelosi: “We are ready to work under the slogan of a united America”

US House of Representatives Speaker Nancy Pelosi said, "We are ready to work under the slogan of a united America". US President Joe Biden has...

Related News