Finance

PSX index closed on negative 900pts unadjusted

Karachi, September 28, 2020: Last week’s rollover session had its trickle down impact on today’s trading session as well, primarily due to low settlement ratios. On top of it, political uncertainty caused by arrest of Opposition leader also caused ripples that resulted in index losing 1056 points during the session.

The index closed -900 points. Cement, O&GMCs, Refinery, Banks saw heavy selling pressure. Technology stocks topped the volumes with 59.7 million shares, followed by O&GMCs (54.6 million) and Power (38.4 million). Among scrips, HASCOL realized trading volumes of 57.5 million shares, followed by UNITY (47.5 million) and BYCO (28.4 million).

The Index closed at 40,740 points as against 41,701 points showing a decline of 960 points (-2.3 percent DoD). Sectors contributing to the performance include Banks (-227 points), Cement (-137 points), Fertilizer (-75 points), Textile (-59 points) and E&P (-58 points).

Volumes declined from 435 million shares to 407.2 million shares (-6 percent DoD). Average traded value also declined by 7 percent to reach US$ 86.1 million as against US$ 92.9 million.

Stocks that contributed significantly to the volumes include HASCOL, TRG, KEL, UNITY and BYCO, which formed 37 percent of total volumes. Stocks that contributed positively to the index include TRG (+6 points), EFUG (+3 points), MTL (+2 points), SRVI (+1 points) and OLPL (+0 points). Stocks that contributed negatively include HBL (-79 points), MARI (-47 points), BAHL (-44 points), ENGRO (-37 points) and HUBC (-35 points).

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