PSX Market Recap: Assessing the Day's Fluctuations
The total volume of the KSE-100 index witnessed a surge, reaching 718.032 million shares.
Karobar
In a day marked by oscillations, the local stock market displayed a sideways trend during the first half of Friday's session. However, a sudden bout of political uncertainty triggered a sharp nosedive of nearly 900 points in the key benchmark KSE-100 index, as the second session unfolded.
By the conclusion of the session, the KSE-100 index managed to recover a significant portion of its earlier losses, ultimately closing at 64,514.90. This represented a decrease of 124.26 points or 0.19%. Throughout the day, the index exhibited a wide range, reaching an intraday high of 65,077.48 (+438.32) and a low of 63,757.96 (-881.20) points.
Market dynamics were evenly balanced, with 41 companies closing higher, 53 closing lower, 2 remaining unchanged, and 4 remaining untraded.
The negative influence on the KSE-100 index was primarily attributed to sectors such as Fertilizer (-83.16), Miscellaneous (-29.2), Cement (-28.26), Oil & Gas Exploration Companies (-24.92), and Commercial Banks (-20.68) points.
Conversely, support for the index came from sectors like Pharmaceuticals (24.81), Leather & Tanneries (20.97), Power Generation & Distribution (20.65), Textile Composite (16.8), and Oil & Gas Marketing Companies (11.41) points.
Notable contributors to the index decline included FFC (-38.3), ENGRO (-34.02), PSEL (-32.58), BAHL (-19.33), and PAKT (-18.35) points. On the positive side, companies such as KEL (39.46), SRVI (20.97), SEARL (19.78), HBL (16.23), and SHEL (15.52) points added strength to the index.
In the broader market, the All-Share index closed at 43,366.60, reflecting a net gain of 57.75 points. Total market volume reached 949.559 million shares, surpassing the previous session's 548.990, and the traded value increased to Rs19.36 billion, marking a rise of Rs3.96 billion.
A total of 229,927 trades were reported in 361 companies, with 160 closing higher, 187 closing lower, and 14 remaining unchanged.
An noteworthy highlight of the day was KEL recording its highest-ever trading volume of 481 million shares, following the successful sealing of PPAA and TDSA deals with the government.
It's noteworthy that the KSE-100 has seen a robust gain of 23,062 points or 55.64% during the fiscal year, while the ongoing calendar year has witnessed a cumulative increase of 2,064 points, equivalent to 3.3%.
