Market Evening Wrap 3rd Dec. 2019

The Benchmark KSE100 index opened at 40,348.40pts with a positive gap of 224.18pts and moved towards its day high at 40.444.05pts in next ten minutes with net change of 319.83pts. But later on bears started taking control of market and they pushed index towards 40,180.25pts to fill the opening gap where net change remained only 56.28pts in positive. Later on a volatile session was witnessed where index moved in zig zag formation to complete intraday correction and expansions. Today's day low was posted at 37,725.70pts with net change of -398.52pts and session suspended at same level but later on average calculation daily closing was settled at 39,788.73pts with net change of -335.49pts.

Trading volume figures recorded a slight decline at PSX floor where total volume settled at 448.48 million shares with net change of -108.92 million shares or 19.54% on DoD basis. Whereas, trading volume of KSE100 listed companies also dropped by 75.26 million shares or 20.81% on DoD basis to settle at 286.4 million shares. KEL, TRG and BOP remained volume leaders at PSX floor during current trading session with net trading volume of 42.80, 25.29 and 19.15 million shares with net price change of 0.87, 0.86 and -36 percent respectively.

Today 369 companies participated in trading at PSX and 134 out of those closed with a positive change while 11 companies closed with no change but 224 companies closed in negative zone. NESTLE, BATA and SAPT lead the price leaders with net price change of 324.50, 96.99 and 44.36 Rs/share respectively. While on the other side RMPL, COLG and ILTM remained top three price laggards with net price change of -100.00, -90.00 and -78.20 Rs/share respectively.

MCB, NESTEL and SEARL were top three index movers and these have tried to push index in positive zone by 26.52, 16.16 and 14.45 points with net price change of 2.93, 324.50 and 6.89 Rs/share respectively. While on the other side ENGRO, UBL and LUCK remained on top in index shakers and these have dragged index in negative zone by -112.21, -39.59 and -36.41 points with net price change of -16.44, -3.66 and -12.74 Rs/share respectively.

Cement, Technology and Power Generation sectors lead the market with volume figures with net trading volume of 51.82, 51.27 and 50.14 million shares respectively. Fertilizer, Banks and Cement sectors have dragged index by -119.82, -115.42 and -79.83 points with accumulated average price change of -1.81, -1.42 and -3.82 percent in prices of their respective companies. While Insurance, Paper & Board and Refinery sectors have tried to push index in positive zone by adding 11.96, 9.30 and 4.26 points with accumulated average price change of 1.99, 5.00 and 1.81 percent in their respective companies but they could not create a noticeable impact on index.