KSE100 Index loses 546.91 points to close at 41,357.56 points

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KARACHI

Pakistan Stock Exchange (PSX) on Wednesday witnessed bearish trend as the KSE-100 index fell by 546.91 points or 1.32 percent due to geo-political and regional security concerns. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,357.56 points against 41,904.47points showing a decline of 546.91 points.

Of the 92 traded companies in the KSE100 Index 12 closed up 79 closed down, while 1 remained unchanged. Total volume traded for the index was 209.28 million shares. Market Cap decreased by Rs87.55 Billion. Total companies traded were 353 compared to 365 from the previous session. Of the scrips traded 42 closed up, 292 closed down while 19 remained unchanged. Total trades increased by 8,163 to 90,514. Value Traded increased by 2.51 Billion to Rs11.69 Billion.

The KSE-100 Index, which opened at 41,493.63, slid to its intraday low at 41,173.95 after losing 730.52 points. It closed lower by 546.91 points at 41,357.56. The KMI-30 Index declined by 641.27 points to end at 67,546.41, while the KSE All Share Index fell short by 364.90 points, closing at 29,010.85. Out of the total traded shares, only 42 advanced while 267 declined.

Sectors that added negativity to the index included banking (-147.62 points), oil & gas exploration (-77.29 points) and power generation & distribution (-61.61 points). Among the companies, Habib Bank Limited (HBL -104.21 points), Pak Petroleum Limited (PPL -49.40 points) and Hub Power Company Limited (HUBC -42.47 points) dented the index the most.

The overall trading volumes improved from 206.89 million in the previous session to 280.07 million. K-Electric Limited (KEL -3.28pc) topped the volume chart, followed by The Bank of Punjab (BOP +0.60pc) and TRG Pakistan Limited (TRG -3.62pc). The scripts had exchanged 39.46 million, 38.19 million and 11.55 million shares, respectively.

It was another tough day for the automobile assembling sector which lost -2.89pc from its cumulative market capitalisation. Indus Motor Company Limited (INDU -4.51pc), Hinopak Motors Limited (HINO -4.62pc), Ghandhara Industries Limited (GHNI -5.00pc) and Honda Atlas Cars (Pakistan) Limited (HCAR -4.07pc) all closed in the red zone.

Pak Suzuki Motor Company (PSMC -4.95pc) on Wednesday announced that it would observe four non-production days (Mondays) in the ongoing month. Furthermore, Sazgar Engineering Works Limited (SAZEW +0.13pc), in a notification sent to the exchange, disclosed its production and sales data for December 2019. According to the notification, 1,189 units were produced while only 615 units were sold. Moreover, Honda Atlas Cars Limited (HCAR -4.07pc) has jacked up the prices of various models by Rs20,000-100,000, effective from Jan 16.

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