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YHSL Market Wrap Report 03-11-2021

Bears composition witnessed today as market continuously dragged down while bulls tried to push the momentum upwards. Decline in index has witnessed today and market closed with negative points. Equity market around the world showed positive performance.

• Minister for Energy Hammad Azhar Wednesday said Pakistan was near completing the action plans given by the Financial Action Task Force (FATF) to ensure compliance in line with its standards.

 

• “Two toughest action plans were given to Pakistan and we showed excellent performance in a short span of time, and now we are near to complete the both tasks,” he said while addressing the participants of first ‘Assessors Course’ here at the National FATF Secretariat.

Index Performance
The benchmark KSE 100 index lost 80.48 pts closed at 47,032.44. During the day the index jumped to day high of 47,317.27 with a gain of 204.35 pts 0.43% positive change. It then fell to day’s low of 46,968.41 with a loss of 144.51 pts. The KMI 30 index depreciated by 327.75 pts closing at 76,114.72. KSE All Share index was down by 42.66 pts ending at 32,053.55.

Volumes for the day
Overall market volumes inclined from 306.2 mn shares in last session to 380.53 mn shares. Pakistan Telecommunication Company Ltd (PTC +10.17%), Hascol Petroleum Limited (HASCOL +3.61%) and Worldcall Telecom Limited (WTL +0.83%) led the volume chart. The scrips had 22.71 mn shares, 17.30 mn shares and 16.29 mn shares traded, respectively.

Contributors to KSE100
Sectors that decreased the benchmark KSE 100 index included Oil & Gas Exploration Companies Sector (146.46 pts), Commercial Banks (139.04 pts) and Food and Personal Care Products Sector (89.98 pts). Company-wise, Oil and Gas Development Company Limited (OGDC 79.98 pts), NESTLE Pakistan Limited (NESTLE 85.52 pts) and Pakistan Petroleum Limited (PPL 75.37 pts) were top negative points contributors.

Selected Sector Performance
The Engineering sector lost 1.82% in its total market capitalization. International Steels Limited (ISL 3.75%), International Industries Limited (INIL 3.11%) and Agha Steel Limited (AGHA 3.73%) all closed in red.