PSX-continues-bullish-trend-gains-827-points-e1576187826235Stocks resume losing trajectory on Monday after previous session’s breather, as budget enthusiasm continues to dwindle owing to resurfacing macro cues, which has displaced investors’ sentiments at Pakistan Stock Exchange (PSX).
On Monday the benchmark kse-100 index witnessed a range bound trading session and clocked at 48,012 level after posting a 226 points loss. The index touched an intraday high of 48,370 level after gaining about 132 points, before losing ground to selling pressure as it touched an intraday low of 47,963.97. The start of FATF’s four-day virtual conference to discuss Pakistan’s Post Observation Period Report (POPR) also added to bearish sentiments, as investors treaded cautiously ahead of the group’s final report which will decide Pakistan’s status.
Monday also saw the start of futures rollover week, which pushed investors to cover their positions. Moreover, uncertainty around depreciating Pakistan’s rupee against the US dollar added fuel to the bearish trend. During the session Market Capital decreased by Rs.37.33 Billion, while total value traded also decreased by 4.79 Billion to Rs.15.88 Billion.
The volume at kse-100 was recorded at 227.4 million shares, while the volume at all shares index clocked at 839 million shares. At kSE-100 the volume chart was led by Silk Bank Limited followed by Hum Network Limited and WorldCall Telecom Limited. The scrips exchanged 235.1 million, 60.26 million and 58.46 million shares.
As per the National Clearing Company of Pakistan limited (NCCPL) foreign investors were net buyers of worth $14.937 worth of shares. Among local investors, Mutual Funds, Insurance Companies and Other organizations led the selling chart, which offloaded $2.8 million, $2.1 million, $1.26 million worth of equities.
However, Banks, Individuals and Brokers led the buying chart and mopped up about $2.2 million, $2.1 million and $1.55 million worth of equities.
During the session, sectors which dented the index were Cement with 64 points, Commercial Banks with 33 points, Chemical with 25 points, Fertilizer with 24 points and Oil & Gas Marketing Companies with 20 points. Among the scrips, the most points taken off the index was by Lucky Cement which stripped the index of 33 points followed by Pakistan State Oil with 22 points, Muslim Commercial Bank with 20 points, Colgate Pakistan with 15 points and Engro Corporation Limited with 14 points. However, sectors that lifted up the index were Food & Personal Care Products with 16 points, Investment Banks with 9 points, Textile Spinning with 4 points, Transport with 3 points and Power Generation & Distribution with 1 points.
Among the scrips, the most points added to the index was by Systems Limited which contributed 19 points followed by FrieslandCampina Pakistan Holdings B.V with 12 points, Meezan Bank Limited with 6 points, Sui North Gas Pipeline with 6 points and Hub power company limited with 6 points.