Karachi, December 20, 2019: Market traded in the range of +399 points and -161 points during the two sessions, closing +178 points. Selling pressure was evident throughout but Oil chain, especially E&P stocks, staged good recovery by the end of session.
Higher international oil prices kept investors’ interest alive. Other than oil stocks, yesterday’s detailed decision on Pervez Musharraf inflicted more pain for investors, which saw banking and cement sector stocks under selling pressure. O&GMCs topped the chart with 32.8 million shares, followed by Cement (18.4 million) and Food (16 million). Among scrips, HASCOLR maintained top position with 18.6 million shares, followed by FFL (14.2 million) and UNITY (8.7 million).
The Index closed at 40,833 points as against 40,655 points showing an increase of +178 points (+0.4 percent DoD). Sectors contributing to the performance include E&P (+134 points), Fertilizer (+27 points), Inv Banks (+26 points), Banks (-38 points), Textile (-18 points).
Volumes declined from 260.2 million shares to 180.7 million shares (-31 percent DoD). Average traded value also declined by 25 percent to reach US$ 55.1 million as against US$ 73.2 million.
Stocks that contributed significantly to the volumes include HASCOLR1, FFL, UNITY, KEL and PAEL, which formed 30% of total volumes.
Stocks that contributed positively include PPL (+63 points), OGDC (+41 points), DAWH (+24 points), PAKT (+19 points) and FFC (+18 points). Stocks that contributed negatively include UBL (-17 points), HMB (-15 points), SNGP (-15 points), NML (-13 points), and MCB (-12 points).
