Market Evening Wrap 9th Dec. 2019

The Benchmark KSE100 index opened at 40,804.44pts with a positive gap of 72.19pts and in next ten minutes moves towards its day high of 40,916.39pts with net change of 184.14pts. Later on bears took control of the market and after a volatile trading session they pushed index towards the day low at 40,314.94pts with net change of -417.31pts while session suspended at 40,381.75pts with net change of -350.50pts. but later on in average mechanism index settled at 40.442.80pts with net change of -289.45pts.

Trading volume at PSX floor dropped by -97.05 million shares or 23.28% on DOD basis to settle at 319.87 million shares while` trading volume of KSE100 index listed companies settled at 217.49 million shares with net change of -51.11 million shares or -19.03%. UNITY, MLCF and LOTCHEM remained volume leaders with net trading volume of 26.81, 18.76 and 15.40 million shares and net price change of -5.66, 0.58 and 1.32 percent respectively.

Today 366 companies have participated in trading at PSX floor where 138 out of these companies closed with positive change and 19 companies closed with no change while 209 companies have closed in negative zone at day end. NESTLE, UPFL and SAPT lead the price gainers with net price change of 362.25, 100 and 53.92 Rs/share while on the other side BATA, INDU and SRVI lead the laggards with net price change of -67.98, -21.18 and -18.40 Rs/share respectively.

NESTLE, ENGRO and MARI lead the index movers by adding 18.12, 13.66 and 10.79 points in index with net price change of 362.25, 1.96 and 18.37 Rs/share. while on the flip side HBL, UBL and LUCK lead the index shakers by dragging index in negative zone by -54.46, -54.45 and -38.56 points with net price change of -3.36, -5.03 and -13.48 Rs/share respectively.

CEMENT, CHEMICAL and TECHNOLOGY sectors lead the volume with net trading volume 44.26, 37.40 and 28.78 million shares respectively. As well as banks, cement and OMCs dragged index in negative zone by -160.33, -72.24 and -58.93 with accumulated average price change of -1.18, -2.61 and -1.01 percent in their respective companies. While on the other side food, fertilizer and oil and Gas exploration sectors have tried to push index in positive zone by adding 20.42, 16.16 and 11.19 points but they could not create a noticeable impact on index.