PSX Closing Bell: Just Like You Imagined

September 8, 2021 (MLN): The domestic equity market witnessed profit booking throughout the session as the bearish rampage hit the trading floor.

Investors' sentiments remained dull on the back of MSCI's decision where it has decided to downgrade Pakistan from Emerging Markets (EM) to Frontier Markets (FM).

 In addition, the government set to increase the electricity tariff in Oct '21, which it had put on hold in April to address the circular debt and retain IMF-related flows. Meanwhile, the rising commodity prices both locally and internationally pose a severe threat to inflation which is still the primary source of concern in the market, as per the market closing note by Pearl Securities.

Resultantly, the benchmark KSE100 index ended the trading session on Wednesday at 46,396.71, lost 333.25 points, or declined by 0.71 percent.

The Index traded in a range of 568.05 points or 1.22 percent of previous close, showing an intraday high of 46,875.05 and a low of 46,307.00.

Of the 98 traded companies in the KSE100 Index 19 closed up 77 closed down, while 2 remained unchanged. Total volume traded for the index was 143.55 million shares.

Sector wise, the index was let down by Cement with 138 points, Oil & Gas Exploration Companies with 74 points, Fertilizer with 54 points, Commercial Banks with 37 points and Power Generation & Distribution with 29 points.

The most points taken off the index was by LUCK which stripped the index of 84 points followed by ENGRO with 51 points, OGDC with 37 points, HUBC with 28 points and MEBL with 25 points.

Sectors propping up the index were Miscellaneous with 39 points, Pharmaceuticals with 20 points, Technology & Communication with 13 points, Glass & Ceramics with 5 points and Sugar & Allied Industries with 1 points.

The most points added to the index was by PSEL which contributed 39 points followed by AGP with 17 points, SYS with 14 points, FABL with 14 points and INDU with 10 points.

All Share Volume increased by 54.11 Million to 477.87 Million Shares. Market Cap decreased by Rs.58.45 Billion.

Total companies traded were 524 compared to 520 from the previous session. Of the scrips traded 160 closed up, 344 closed down while 20 remained unchanged.

Total trades increased by 7,734 to 135,594.

Value Traded increased by 3.40 Billion to Rs.14.69 Billion

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