Market continued the downtrend following end of earnings season as well as rapid spike in COVID related cases that resulted in a loss of 1109pts during the session, ending the session 807pts (unadjusted). Market saw signs of intermittent recovery during the session on the pretext of SC’s decision on GIDC review case, which bodes well for Fertilizer stocks, as well as anticipation with regards Amnesty scheme. However, selling pressure kept the Index recovery in check. Selling was observed across the board, however, brisk buying was seen in AGHA post listing, which took the stock price to upper circuit. Among stocks, HASCOL topped the volumes with 32.4M shares, followed by UNITY (31.1M) and PIBTL (20.1M).

        The Index closed at 39,112pts as against 39,888pts showing a decline of 776pts (-1.9% DoD). Sectors contributing to the performance include Banks (-186pts), E&P (-143pts), O&GMCs (-71pts), Cement (-58pts) and Fertilizer (-53pts).

        Volumes declined from 541.8mn shares to 322.3mn shares (-41% DoD). Average traded value also declined by 41% to reach US$ 74.7mn as against US$ 127mn.

        Stocks that contributed significantly to the volumes include HASCOL, UNITY, PIBTL, PR and POWER, which formed 36% of total volumes.

        Stocks that contributed positively to the index include DAWH (+17pts), DGKC (+5pts), UNITY (+4pts), NATF (+4pts) and IGIHL (+4pts). Stocks that contributed negatively include HBL (-69pts), OGDC (-66pts), PPL (-60pts), LUCK (-45pts) and MCB (-38pts).