Karachi, September 13, 2019: Market traded in a narrow range on Friday between +83 points and -267 points with a total volume of 103 million shares. Mixed trend was witnessed in E&P scrips that brought the index in red zone.
Cement and Steel sector scrips also made positive moves with ASTL and MUGHAL hitting upper circuits. Stocks that contributed to selling pressure mainly included HUBC, HBL and MLCF. Cement sector led the volumes table with 18.7 million shares followed by E&P (7.1 million) and Engineering (8.2 million). Among scrips, MLCF ranked top with 7.5 million shares followed by UNITY (7.1 million) and OGDC (6.8 million).
The Index closed at 31,481 points as against 31,546 points showing a decline of 65 points (-0.2 percent DoD). Sectors contributing to the performance include Cement (+43 points), Fertilizer (+16 points), Insurance (+11 points), Banks (-116 points), Autos (-23 points), Power (-23 points).
Volumes declined from 185.8 million shares to 103 million shares (-45 percent DoD). Average traded value also declined by 43 percent to reach US$ 29.9 million as against US$ 52 million.
Stocks that contributed significantly to the volumes include MLCF, UNITY, OGDC, PAEL and LOTCHEM, which formed 30 percent of total volumes.
Stocks that contributed positively include LUCK (+47 points), EFERT (+15 points), KAPCO (+15 points), PPL (+14 points) and UBL (+10 points). Stocks that contributed negatively include HBL (-69 points), HUBC (-35 points), MCB (-34 points), MARI (-17 points), and BAHL (-17 points).