Aug 08, 2019 (MNL): The stock market participants are seemingly at the edge of their seats and are launching into sell-offs at the drop of a hat! Amid depleting economic indicators and political uncertainty within the country, the Kashmir issue couldn’t have popped up at a worse time for Pakistan.
The KSE – 100 index’s trading trend as of late, paints a depressing picture as it has lost a whopping net total of 2,200 points in merely 6 days. In the first month of FY20 alone, the market cap has gone down by Rs.503 billion or $3.029 billion whereas in the first 6 session of August, the market cap has decreased by an additional Rs.334.410 billion or $1.774 billion.
While passing by, we have also noticed that the market cap has eroded by $33 billion since June end in 2018, or in simpler words, by 31% of the country’s current external debt.
The benchmark index currently stands close at 29,738 having lost 539 points in today’s trade alone. This is the lowest the 100 – index has been in the last 4 years, i.e. since March 30, 2015.
The Index remained negative throughout the session touching an intraday low of 29,401.76
Of the 92 traded companies in the KSE100 Index 22 closed up 69 closed down, while 1 remained unchanged. Total volume traded for the index was 90.52 million shares.
Sector wise, the index was let down by Commercial Banks with 213 points, Oil & Gas Exploration Companies with 150 points, Power Generation & Distribution with 62 points, Cement with 34 points and Automobile Assembler with 26 points.
The most points taken off the index was by HBL which stripped the index of 55 points followed by POL with 54 points, OGDC with 53 points, MCB with 51 points and HUBC with 43 points.
All Share Volume increased by 43.80 Million to 109.10 Million Shares. Market Cap decreased by Rs.73.55 Billion.
Total companies traded were 338 compared to 326 from the previous session. Of the scrips traded 76 closed up, 238 closed down while 24 remained unchanged.
Total trades increased by 11,778 to 44,916.
Value Traded increased by 1.60 Billion to Rs.4.34 Billion
| Company | Volume |
|---|---|
| K-Electric | 10,321,000 |
| Unity Foods | 7,769,000 |
| Maple Leaf Cement Factory | 6,652,000 |
| Lotte Chemical Pakistan | 5,420,500 |
| International Steels | 3,974,500 |
| The Bank of Punjab | 3,720,500 |
| Nishat Mills | 3,417,100 |
| Faysal Bank | 2,926,500 |
| Oil & Gas Development Company | 2,743,900 |
| TRG Pakistan | 2,685,500 |
| Sector | Volume |
|---|---|
| Cement | 15,231,100 |
| Power Generation & Distribution | 14,070,000 |
| Commercial Banks | 13,550,900 |
| Vanaspati & Allied Industries | 7,769,000 |
| Chemical | 7,201,100 |
| Engineering | 6,370,100 |
| Fertilizer | 6,303,000 |
| Oil & Gas Exploration Companies | 5,897,340 |
| Oil & Gas Marketing Companies | 5,549,400 |
| Textile Composite | 5,245,500 |
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