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Closing Bell: Sluggish trading as investors adopt wait ‘n’ watch approach
July 11, 2019 (MLN): The domestic equity market on Thursday endured another volatile trading session, as the Benchmark KSE – 100 index observed lackluster activity throughout the day and landed in consolidation by the end of it. Absence of any significant trigger forced the investors to remain sidelined, moreover, market participants adopted wait and watch approach due to much-awaited clarity on a hike in policy rate in the forthcoming Monetary policy meeting. As a result, the Benchmark KSE100 index ended the trading session with a 35.35 points or 0.10 percent gain to close at 33,875.40. The Index traded in a range of 236.96 points or 0.70 percent of previous close, showing an intraday high of 33,959.24 and a low of 33,722.28. Of the 87 traded companies in the KSE100 Index 36 closed up 47 closed down, while 4 remained unchanged. Total volume traded for the index was 23.39 million shares. Sectors propping up the index were Commercial Banks with 42 points, Fertilizer with 19 points, Oil & Gas Marketing Companies with 10 points, Oil & Gas Exploration Companies with 9 points and Sugar & Allied Industries with 2 points. The most points added to the index was by HBL which contributed 33 points followed by ENGRO with 16 points, UBL with 14 points, POL with 9 points and MCB with 8 points. Sector wise, the index was let down by Pharmaceuticals with 11 points, Chemical with 8 points, Automobile Assembler with 7 points, Textile Composite with 5 points and Food & Personal Care Products with 3 points. The most points taken off the index was by MARI which stripped the index of 7 points followed by NATF with 5 points, MEBL with 5 points, INDU with 4 points and HMB with 4 points. All Share Volume decreased by 1.13 Million to 39.49 Million Shares. Market Cap decreased by Rs.5.33 Billion. Total companies traded were 305 compared to 301 from the previous session. Of the scrips traded 114 closed up, 168 closed down while 23 remained unchanged. Total trades decreased by 798 to 18,307. Value Traded decreased by 0.20 Billion to Rs.1.44 Billion. Company Volume Top Ten by Volume Dost Steels 4,387,500 Maple Leaf Cement Factory 2,716,000 The Hub Power Company 2,212,500 Lotte Chemical Pakistan 2,137,000 TPL Corp 2,122,000 Pak Elektron 1,056,500 K-Electric 846,500 TRG Pakistan 838,000 Shabbir Tiles & Ceramics 801,500 Unity Foods 789,500 Sector Volume Top Sector by Volume Cement 5,515,500 Engineering 5,207,000 Chemical 3,742,450 Commercial Banks 3,711,600 Technology & Communication 3,542,500 Power Generation & Distribution 3,452,500 Oil & Gas Marketing Companies 2,163,100 Fertilizer 1,645,000 Cable & Electrical Goods 1,059,500 Glass & Ceramics 906,000 Copyright Mettis Link News