Market Recap: PSX Ends Session with Decline
In today's session, out of the 100 index companies, 23 concluded with gains, 72 with losses, 2 remained unchanged, while 3 were untraded.
Karobar
In Tuesday's trading session, the KSE-100 index experienced a downturn, concluding at 63,737.46, marking a decline of 531.91 points or 0.83%.
Throughout the day, the index fluctuated within a range of 848.74 points, reaching an intraday high of 64,246.68 (+-22.70) and a low of 63,397.94 (-871.43) points.
The total trading volume for the KSE-100 index stood at 234.389 million shares.
Market sentiment took a hit following PSMC's buyback announcement, leading to a 7.5% drop in the company's share price today.
The Voluntary Delisting Committee (VDC) of PSX, on Monday, disclosed the minimum buyback price for PSMC at Rs609, significantly lower than the previous day's closing of Rs774.6 per share.
Key sectors contributing to the KSE-100 index decline were Oil & Gas Exploration Companies with 170.52 points, Power Generation & Distribution with 64.9 points, Fertilizer with 53.5 points, Cement with 48.19 points, and Miscellaneous with 43.74 points.
On the positive side, the index found support from Technology & Communication with 34.75 points, Refinery with 12.87 points, Transport with 4.15 points, Food & Personal Care Products with 3.97 points, and Close–End Mutual Fund with 1.13 points.
Companies weighing down the index included PPL with 111.09 points, OGDC with 75.91 points, HUBC with 63.01 points, PSEL with 40.35 points, and ENGRO with 29.7 points.
Conversely, companies contributing positively to the index were PTC with 18.01 points, NESTLE with 13.79 points, SYS with 13.24 points, MARI with 13.01 points, and BAFL with 11.87 points.
In the broader market, the All-Share index concluded at 43,173.72, registering a net loss of 269.78 points.
Total market volume reached 407.356 million shares, surpassing the previous session's 381.734 million, while the traded value recorded Rs12.63 billion, indicating a decrease of Rs1.43 billion.
A total of 168,191 trades were reported in 336 companies, with 91 closing up, 218 closing down, and 27 remaining unchanged.
It's worth noting that the KSE-100 has seen a gain of 22,285 points or 53.76% during the fiscal year, while the ongoing calendar year has witnessed a cumulative increase of 1,286 points, equivalent to 2.06%.
