Market Evening Wrap 17th Dec. 2019

The Benchmark KSE100 index opened at 41,940.17pts with net change of 295.29pts during current trading session and moved towards its day high at 42,056.14pts with net change of 411.26pts in next ten minutes but mean while a sudden panic was occurred in market and a massive selling was witnessed which pushed index downward initially towards 41,509.78pts and bulls tried to take control of market and pushed it by 219pts in upward direction but they lost control again at 41,727.15pts when a net change of 83.41pts was noted once again in positive direction. Later on bears pushed market pushed again downward towards its day low at 41,025.17pts with net change of -619.17pts. But session suspended after a sharp recover and index closed at 41,768.66pts with net change of 123.78pts.

Trading volume at PSX floor surged by 53.78 million shares or 15.03% on DoD basis to settle at 411.57 million shares and meanwhile volume figures of KSE100 listed companies also followed the trend and settled at 253.53 million shares with net change of 31.21 million shares or 14.04% on DoD basis. FFL, HASCOLR1 and UNITY lead the volume numbers at PSX with net trading volume of 40.57, 35.60 and 26.21 million shares with net price change of 6.09, -6.30 and -2.40 percent respectively.

Today, 360 companies participated in trading at PSX floor and 125 out of these closed with a positive note while 16 companies closed in neutral zone but 219 companies close with a net negative price change. RMPL, COLG and SHFA lead the price gainers with net change of 96.00, 50.00 and 14.05 Rs/share respectively. While on the other side NESTLE, PAKT and SFL remained top three laggards with net price change of -280.00, -134.00 and -44.15 Rs/share.

Food, Cement and OMCs were top three volume leading sectors today with net volume figures of 43.46, 41.99 and 36.77 million shares. Oil & Gas exploration, Banks and Investment companies sectors have played a vital role in moving index in positive direction by adding 227.03, 100.83 and 48.65 points in index with accumulated average price change of 2.95, 0.31 and 1.09 percent in their respective companies. While on other side Power Generation, Cement and Tobacco sectors have tried to drag index in negative zone by -45.18, -38.85 and -37.92 points with accumulated average price change of -12, -1.46 and -2.68 percent in their respective companies.