February 16, 2024 (MLN): The Pakistan stock market remained under pressure on Friday amid continued political uncertainty, coupled with the latest large-scale manufacturing data which likely dampened expectations for monetary easing in the near term.
The benchmark KSE-100 index traded at 60,017.90 showing a decrease of 1,002.15 points or 1.64% by 11:41am.
The total volume of the KSE-100 index was 78.519 million shares.
Large Scale Manufacturing Industries (LSMI) output surged 15.7% MoM in December. the data may take off bets on any interest rate cuts in the near term.
Yesterday, the KSE-100 index slipped by 1,134 points, or 1.82%, and closed at its lowest level in almost two months.
KSE-100 index was let down by Oil & Gas Exploration Companies with 350.73, Cement with 150.29, Technology & Communication with 118.42, Commercial Banks with 80.42, and Oil & Gas Marketing Companies with 79.72 points.
Companies that dragged the index lower were OGDC with 158.88, PPL with 130.84, SYS with 69.26, PSO with 51.39 and LUCK with 48.69 points.
On the other hand, companies that added points to the index were EFERT with 30.47, FATIMA with 20.66, MCB with 18.51, NATF with 16.76, and DAWH with 7.26 points.
In the broader market, the All-Share index was at 40,432.23 with a net loss of 731.30 points.
Company
Volume
Top Ten by Volume
KEL
21,477,676
WTL
17,828,389
OGDC
11,503,118
PRL
9,108,406
PPL
7,128,793
PIAA
6,819,000
EFERT
6,192,201
HUMNL
6,104,500
SILK
4,792,000
BOP
2,969,780
To note, the KSE-100 has gained 18,565 points or 44.79% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of 2,433 points, equivalent to 3.9%.
