Karachi, December 31, 2019: Market traded in a narrow range throughout the session with index swinging +110 points to -199 points and closing the session at -87 points (unadjusted).
Similar to yesterday, market maintained a slow pace with continued selling pressure in Banks and Oil chain. Cement sector also faced selling.
Overall, the benchmark index returned 10 percent over the year and managed to close the year above 40k level. Power sector led the volumes with 22.5 million shares, followed by Vanaspati (21.5 million) and Banks (19.3 million). Amng scrips, UNITY registered trading volume of 21.5 million, followed by KEL (13.8 million) and FFL (10.2 million).
The Index closed at 40,735 points as against 40,888 points showing a decline of 153 points (-0.4 percent DoD). Sectors contributing to the performance include Banks (-17 points), E&P (-32 points), Inv Banks (-19 points), Autos (-11 points), Power (+17 points), Technology (+10 points).
Volumes increased from 165.8 million shares to 177.1 million shares (+7 percent DoD). Average traded value also increased by 7 percent to reach US$ 45.7 million as against US$ 42.8 million.
Stocks that contributed significantly to the volumes include UNITY, KEL, FFL, SILK and HASCOL, which formed 34 percent of total volumes.
Stocks that contributed positively include FFC (+34 points), KAPCO (+7 points), HUBC (+7 points), INIL (+7 points) and SHEL (+6 points). Stocks that contributed negatively include ENGRO (-44 points), UBL (-36 points), HBL (-32 points), DAWH (-19 points), and PPL (-17 points).
