Market Evening Wrap 21st Nov. 2019

The Benchmark KSE100 index opened at 38,049.46pts with a positive gap of 11.78pts during current trading session but index started losing momentum in first ten minutes after posting a day high of 38,096.56pts and dropped towards 37,909.14pts, again bulls have tried to regain the control but they could not maintain their strength till next half hour and index started sliding downward and bears took the control in market and they dragged the index towards a day low of 37,033.45pts with net change of -1,004.23pts, index regained strength during average closing calculation to close at 37,101.31pts with net change of -936.37pts.

Trading volume at PSX floor dropped by 95.07 million shares or 29.02% on DoD basis and KEL, PAEL and TRG remained volume leaders with trading volume of 12.13, 10.32 and 9.51 million shares and price change of 3.61, 4.98 and 5.00 percent respectively. Volume figures dropped significantly on PSX floor where a total of 232.57 million shares were traded. While trading volume of companies listed in KSE100 index also have decreased by 39.96 million shares or 21.43% on DoD basis.

351 companies have participated in today's trading where 273 companies remained in negative zone and 10 companies closed with no change while 68 companies have closed with a positive change at day end today. NESTLE, ILTM and SAPT lead the movers with a positive change of 165, 69.90 and 34.97 Rs/share respectively, while on the other side UPFL, COLG and BATA lead the laggards with net price change of -345.00, -89.99 and -88.38 Rs per share.

NESTLE, HASCOL and AICL have tried to push index in positive zone with 7.90, 1.52 and 1.47 points with net price change of 165, 1.02 and 0.30 Rs/share but HUBC, LUCK and ENGRO have dragged the index in negative zone by 75.68, 56.78 and 49.02 points with net price change of -3.54, -20.02 and -6.95 Rs/share respectively.

Banks, Fertilizer and Power Generation sector have pushed index in negative direction by -204.67, -108.15 and -102.33 points with accumulative price change of -2.53, -2.18 and -3.22 percent in their respective companies. Food & Personal Care Products, Textile Weaving and Woolen sectors have tried to resist against bearish momentum but they could not succeed in creating a noticeable impact. Cement, Technology and Engineering sectors lead the volume numbers by 36.95, 22.62 and 22.05 million shares respectively.