February 7, 2020 (MLN): The domestic equity market extended its losses on Friday and closed the week on a negative note after losing 580 points and settled at 40,143 mark.
Throughout the week, investors chose to stay on sidelines and kept awaiting a trigger for the market, as a result, the KSE-100 index lost around 1,487 points over the week.
As per the report by Ismail Iqbal Securities in which the brokerage house predicted that Pakistan equities may remain sideways as external account stabilization (FX reserves increase, Moody's stable outlook) would be partially offset by near term tax shortfall which also increases the risk of higher indirect taxation in mini-budget or upcoming FY21 budget.
Moreover, it seems that the Government is pushing towards energy sector reforms by optimizing tariff structure for consumers which could keep energy stocks in the limelight, the report added.
The Index traded in a range of 822.91 points or 2.02 percent of previous close, showing an intraday high of 40,869.49 and a low of 40,046.58.
Of the 89 traded companies in the KSE100 Index 10 closed up 76 closed down, while 3 remained unchanged. Total volume traded for the index was 157.23 million shares.
Sector wise, the index was let down by Commercial Banks with 132 points, Oil & Gas Marketing Companies with 71 points, Oil & Gas Exploration Companies with 65 points, Cement with 65 points and Power Generation & Distribution with 42 points.
The most points taken off the index was by HBL which stripped the index of 43 points followed by PSO with 41 points, HUBC with 30 points, DAWH with 27 points and BAFL with 25 points.
Sectors propping up the index were Insurance with 2 points and Textile Spinning with 2 points.
The most points added to the index was by EFUG which contributed 9 points followed by FFC with 8 points, SCBPL with 4 points, BAHL with 3 points and NATF with 2 points.
All Share Volume increased by 65.73 Million to 193.54 Million Shares. Market Cap decreased by Rs.95.86 Billion.
Total companies traded were 355 compared to 349 from the previous session. Of the scrips traded 47 closed up, 291 closed down while 17 remained unchanged.
Total trades increased by 5,656 to 58,730.
Value Traded increased by 0.95 Billion to Rs.6.81 Billion
| Company | Volume |
|---|---|
| Maple Leaf Cement Factory | 21,467,000 |
| Lotte Chemical Pakistan | 17,385,500 |
| Unity Foods | 14,431,500 |
| Hascol Petroleum | 10,592,500 |
| The Bank of Punjab | 10,066,000 |
| Fauji Cement Company | 8,466,000 |
| Engro Polymer & Chemicals | 7,391,500 |
| D.G. Khan Cement Company | 6,835,000 |
| Askari Bank | 6,488,000 |
| TRG Pakistan | 6,444,500 |
| Sector | Volume |
|---|---|
| Cement | 43,332,700 |
| Chemical | 28,115,380 |
| Commercial Banks | 25,991,300 |
| Technology & Communication | 16,882,400 |
| Oil & Gas Marketing Companies | 15,622,300 |
| Vanaspati & Allied Industries | 14,431,700 |
| Fertilizer | 6,358,200 |
| Oil & Gas Exploration Companies | 5,006,200 |
| Transport | 5,005,100 |
| Food & Personal Care Products | 4,759,740 |
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