PSX Market Recap: Volatility Persists as KSE-100 Witnesses Decline
The day recorded 167,266 trades across 360 companies, with 95 closing higher, 247 closing lower, and 18 remaining unchanged.
Karobar
The KSE-100 index initiated the week with a bullish trend, reaching an intraday high of 65,174 at 09:43 am, fueled by buying momentum. However, as the day progressed, sellers took control, leading to a gradual erosion of gains.
Closing bell saw the KSE-100 settling at 64,269.38, reflecting a decline of 368.26 points or 0.57% from the preceding session. The index traded within a range of 1,042.92 points, marking an intraday high of 65,173.87 (+536.23) and a low of 64,130.96 (-506.68) points. Total trading volume for the KSE-100 index stood at 235.432 million shares.
Last week exhibited a marginal gain of 123 points or 0.19% WoW for the index. In today's trading session, out of the 100 index companies, 22 closed higher, 73 closed lower, 1 remained unchanged, and 4 were untraded.
Cement (-88.29), Commercial Banks (-51.13), Fertilizer (-49.51), Technology & Communication (-44.37), and Food & Personal Care Products (-28.75) were the sectors dragging down the KSE-100 index. Conversely, Power Generation & Distribution (+46.9), Oil & Gas Exploration Companies (+5.39), Insurance (+4.2), Miscellaneous (+3.48), and Sugar & Allied Industries (+1.58) provided support.
The power generation sector stood out as the best-performing today, with investors speculating on HUBC's upcoming board meeting to discuss corporate actions and business developments.
Companies exerting downward pressure on the index included EFERT (-55.18), PPL (-33.91), SYS (-25.63), LUCK (-21.76), and DGKC (-20.71) points. In contrast, companies contributing positively were HUBC (+57.68), OGDC (+54.14), PSO (+13.94), FFBL (+13.74), and MCB (+10.34) points.
In the broader market, the All-Share index concluded at 43,443.50, witnessing a net loss of 296.63 points. Total market volume amounted to 381.734 million shares, a decrease from the previous session, and the traded value was Rs14.06 billion, reflecting a decrease of Rs5.96 billion.
It's noteworthy that during the fiscal year, the KSE-100 has gained 22,817 points or 55.04%, while the ongoing calendar year has seen a cumulative increase of 1,818 points, equivalent to 2.91%.
