Market Evening Wrap 10th Dec. 2019

The Benchmark KSE100 index opened at 40,480.36pts with a positive gap of 37.56 points and bulls pushed it towards 40,569.93pts with net change of 127.13pts in next fifteen minutes but they lost control and index dipped towards its day low in first half hour of trading with net change -183.77pts at 40,259.03pts. Later on some volatility was witnessed in first half of the day but later on bulls started moving index in positive direction and they pushed towards day high at 40,704.22pts with net change of 261.41pts. At day end session suspended at 40,608.58pts with net change of 165.78pts but in averaging mechanism index settled at 40,664.60pts with net change of 221.79pts.

Trading volume at PSX floor dropped by 65.46 million shares or 20.45% on DOD basis to settle at 245.62 million shares. Same trend was followed in KSE100 index listed companies and volume of these companies settled at 157.14 million shares with net change of -60.48 million shares or 27.79% on DOD basis. UNITY, FFL and KEL lead the volume leaders with net trading volume of 30.54, 19.29 and 15.85 million shares with net price change of 5.72, 1.25 and 1.31 percent respectively.

Today 350 companies participated in trading at PSX floor, 171 out of these closed with a positive note and 21 companies closed in neutral zone while 158 companies closed with net negative price change. NESTLE, SFL and WYETH lead the price gainers with net price change of 380.36, 38.33 and 33.95 Rs/share. While on the other side PSMC, BATA and HINOON lead the price losers with net price change of -13.60, -12.65 and -11.03 Rs/share.

LUCK, POL and UBL remained top three index moving scripts and these have added 30.57, 27.86 and 24.28 points in index with net price change of 10.57, 9.59 and 2.23 Rs/share. But HBL, OGDC and HUBC have tried to drag index in negative zone by -19.53, -17.74 and -16.26 points as top three index shakers with net price change of -1.19, -1.22 and -0.74 Rs/share respectively.

Vanaspati, Chemical and Cement sectors lead the volume numbers with net trading volume figures of 30.55, 30.16 and 29.30 million shares. Cement, Pharma and OMCs sectors have pushed index in positive zone by adding 52.30, 29.37 and 28.02 points with accumulated average price change of 1.91, 2.89 and 1.95 percent in their respective companies. While on the flip side Power Generation, Banks and Glass & Ceramics sectors have tried to drag index in negative direction but they could not succeed in creating a noticeable impact on index.