· Market traded in a narrow range today, oscillating between -213pts and +274pts, closing the session by -83pts (unadjusted). FATF’s decision to maintain status quo for Pakistan till June 2021 saw a lukewarm welcome from Investors. Profit booking was witnessed almost across the board, including Technology, Cement and Textile sector stocks, whereas O&GMCs faced aggressive selling, especially PSO, which has been facing wrath since announcement of financial results.
Cement sector stocks rallied earlier in the session on the back of anticipation of healthy sales in the ongoing month, however, profit booking by the end of session brought stock prices below LDCP (barring LUCK, which showed decent price gain). Among scrips, UNITY realized trading volumes of 44.5M shares, followed by TELE (36.6M) and TRG (33M).
· The Index closed at 45,865pts as against 45,966pts showing a decline of 101pts (-0.2% DoD). Sectors contributing to the performance include E&P (-56pts), Technology (-33pts), Chemical (-31pts), Autos (-24pts), O&GMCs (-20pts) and Cement (+48pts).
· Volumes increased from 468.9mn shares to 479.9mn shares (+2% DoD). Average traded value also increased by 11% to reach US$ 162.8mn as against US$ 147.1mn.
· Stocks that contributed significantly to the volumes include UNITY, TELE, TRG, BYCO and HUMNL, which formed 33% of total volumes.
· Stocks that contributed positively to the index include LUCK (+57pts), HBL (+34pts), SEARL (+21pts), FFC (+18pts) and ANL (+16pts). Stocks that contributed negatively include OGDC (-54pts), TRG (-45pts), COLG (-30pts), NML (-16pts) and NBP (-13pts).