Market Evening Wrap 22nd Dec. 2020

The Benchmark KSE100 index opened at 42,641.68pts with a positive gap of 15.20pts during current trading session and bears pushed index in negative direction right after opening and index dropped towards 42,458.61pts with net change of -168.07pts. Later on bulls tried to recover the index from negative momentum and they pushed index in positive zone towards day high of 42,675.42pts where net change of 48.94pts was recorded but they lost control there and index face serious pressure and take a dip towards day low of 42,143.90pts with net change of -482.57pts. While before closing index recovered towards positive zone and session suspended at 42,627.31pts with net change of 0.83pts. Later on during averaging mechanism day closed at 42,561.27pts with net change of -65.20pts. Overall a volatile trading session was witnessed today.

Trading volume at PSX floor remained approximately unchanged and day closed with net trading volume of 177.99 million shares with net change of 0.42 million shares or 0.24% on DoD basis. While on the other side trading volume of KSE100 listed companies dropped by 4.19 million shares or 3.42% on DoD basis to settle at 118.31 million shares. OGDC, MLCF and UNITY lead the volume leaders with net trading volume of 19.24, 9.01 and 8.46 million shares with net price change of -2.73, -2.02 and -3.91 percent respectively.

Today, 348 companies participated in trading at PSX floor and 131 out of these closed in positive zone while 25 companies closed in neutral zone but 192 companies closed with net negative price change. BATA, IDYM and GATI lead the price gainers with net price change of 43.30, 27.00 and 22.93 Rs/share. While on the other side PAKT, MEHT and ICI lead the price losers with net price change of -79.00, -24.00 and -20.81 Rs/share respectively.

Exploration, Technology and Cement sectors lead the volume numbers today with net trading volume of 23.66, 19.50 and 19.16 million shares. Cement, Banks and Fertilizer sectors have tried to push index into positive zone by adding 64.09, 35.40 and 33.06 points with accumulated average price change of 2.27, -0.26 and -0.37 percent respectively. While on the other side Exploration, OMCs and Investment sectors have tried to drag index into negative zone by -37.33, -31.69 and -22.99 points with accumulated average price change of -0.37, -2.35 and -1.73 percent respectively.