Market Evening Wrap 6th Dec. 2019

The Benchmark KSE100 index opened at 40641.10pts and dropped towards its day low at 40,595.96pts with net change of -45.147pts in first half hour while later on it recovered and posted a high at 40,953.52pts in first half but could not maintain its bullish spike and took an intraday correction and dropped towards 40,728.01 where net change remained only 86.91pts. While first half suspended with a slight recover at 40,820.77pts with net change of 179.67pts. In second bulls tried to ride the market and they took it towards 40,897.76pts with net change of 346.66pts. But they could not maintain their grip and index started losing momentum and dropped towards 40,623.53pts in last hour of trading. While session suspended at 40,669.81pts with net change of 28.71pts but in average closing mechanism index settled at 40,732.25pts with net change of 91.15pts.

Trading volume figures dropped significantly during current trading session at PSX to settle at 416.11 million shares with net change of 91.79 million shares or 18.07% on DoD basis. While trading volume of KSE100 listed companies also settled with net negative change at 268.09 million shares and volume figures dropped by 59.15 million shares or 18.08% on DoD basis. UNITY, FCCL and MLCF lead the volume leaders with net trading volume of 53.50, 31.94 and 18.61 million shares and net price change of 5.78, 2.34 and -0.41 percent respectively.

Today, 359 companies participated in trading at PSX floor, 178 out of these closed with net positive price change and 13 companies closed with no change while 168 companies closed in negative zone. NESTLE, COLG and BATA lead the price movers with net price change of 345.00, 99.22 and 73.51 Rs/share respectively. While on the other side WYETH, EXIDE and HINO lead the price losers with net price change of -28.33, -13.38 and -12.96 Rs/share.

BAHL, PPL and OGDC remained top three index movers and these have tried to add 54.70, 28.51 and 27.39 points in index with net price change of 3.40, 1.93 and 1.91 Rs/share respectively. While on the other side HBL, PSO and UBL remained top three index shakers and these have tried to drag index in negative zone by -34.73, -28.84 and -16.16 points with net price change of -2.13, -6.13 and -1.47 Rs/share.

Cement, Vanaspati and Technology sectors lead the volume numbers with net trading volume of 70.34, 53.50 and 35.20 million shares. Oil & Gas Exploration, Food and Insurance sectors have tried to push index in positive zone by 57.75, 30.47 and 23.69 points with accumulated average price change of 0.75, 2.81 and 3.20 percent in their respective companies. While on the other side Banks, Cements and Pharma sectors have created a net negative impact on index with -22.31, -20.04 and -17.04 points with accumulated price change of -0.04, -0.72 and -0.88 percent in their respective companies.