Stock market ends down 153 points to close year 2019

Stock market ends down 153 points to close year 2019

KARACHI: The stock market fell by 153 points on Tuesday as the last day of 2019 while trading in narrow range during the day.

The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,735 points as against 40,888 points showing a decline of 153 points.

Analysts at Arif Habib Limited said that the market traded in a narrow range throughout the session with index swinging +110 points to -199 points.

Similar to yesterday, market maintained a slow pace with continued selling pressure in Banks and Oil chain. Cement sector also faced selling.

Overall, the benchmark index returned 10 percent over the year and managed to close the year above 40,000 level. Power sector led the volumes with 22.5 million shares, followed by Vanaspati (21.5 million) and Banks (19.3 million).

Among scrips, UNITY registered trading volume of 21.5 million, followed by KEL (13.8 million) and FFL (10.2 million).

Sectors contributing to the performance include Banks (-17 points), E&P (-32 points), Inv Banks (-19 points), Autos (-11 points), Power (+17 points), Technology (+10 points).

Volumes increased from 165.8 million shares to 177.1 million shares (+7 percent DoD). Average traded value also increased by 7 percent to reach US$ 45.7 million as against US$ 42.8 million.

Stocks that contributed significantly to the volumes include UNITY, KEL, FFL, SILK and HASCOL, which formed 34 percent of total volumes.

Stocks that contributed positively include FFC (+34 points), KAPCO (+7 points), HUBC (+7 points), INIL (+7 points) and SHEL (+6 points). Stocks that contributed negatively include ENGRO (-44 points), UBL (-36 points), HBL (-32 points), DAWH (-19 points), and PPL (-17 points).

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