Market Evening Wrap 29th Dec. 2020

The Benchmark KSE100 index opened at 42,312.96pts with a positive gap of 13.77pts during current trading session and moved towards its day high at 42,429.49pts in first half hour where a net change of 130.30pts was recorded. Index tried to penetrate above this region three times but could not succeed and then a massive selling pressure pushed index into negative zone and index dropped towards its day low 41,790.81pts with a net change of -508.38pts before closing. Later on during averaging mechanism index recovered slightly and closed at 41,898.70pts with a net change of -400.49pts.

Trading volume at PSX inched up slightly and settled at 197.14 million shares with net change of 8.13 million shares or 4.3% on DoD basis. But trading volume of KSE100 listed companies decreased by 10.05 million shares or 7.32% to settle at 127.11 million shares. WTL, HASCOL and MLCF remained top three volume leaders with net trading volume of 22.73, 17.88 and 10.86 million share and net price change of -6.03, -2.04 and -3.24 percent respectively.

Today, 355 companies participated in trading and 105 out these closed in positive region while 14 companies maintained neutral zone but 236 companies closed in negative zone. IDYM, SRVI and GATI lead the price gainers with net price change of 26.23, 20.00 and 20.00 Rs/share. While on the other side SIEM, ARPL and SHEZ remained top three price losers with net price change of -35.97, -34.92 and -29.29 Rs/shares respectively.

Technology, Cement and Banking sectors remained volume leaders with net trading volume of 34.28, 26.16 and 23.89 million shares. Banks, Fertilizer and Cement sectors have dragged index into negative zone by -198.65, -67.38 and -65.17 points with accumulated average price change of -1.24, -1.57 and -2.55 percent respectively.