Intraday Report: KSE-100 Index slips 1,000pts

July 19, 2024 (MLN): Pakistan stock market sold off on Friday after closing at a record yesterday.

The benchmark KSE-100 Index slipped 1,015.28 points or 1.24% to 80,824.58 by 10:45am.

Despite the selloff, the index is still up 880pts or 1.1% this week.

Top losers during the day were INIL (-6.89%), PAEL (-6.46%), KTML (-5.50%), ILP (-4.20%), and HBL (-3.81%).

On the other hand, top gainers were GADT (+9.15%), THALL (+3.75%), SNGP (+2.92%), AVN (+2.29%), and DCR (+2.18%).

In terms of index-point contributions, companies that dragged the index lower were HUBC (-108.51pts), HBL (-102.81pts), SYS (-92.52pts), UBL (-76.22pts), and BAFL (-39.03pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-334.55pts), Power Generation & Distribution (-131.91pts), Fertilizer (-126.97pts), Technology & Communication (-117.41pts), and Oil & Gas Exploration Companies (-67.09pts).

In the broader market, the All-Share index was at 51,376.84 with a net loss of 396.44 points or 0.77%.

To note, the KSE-100 Index is up 3% so far this month and more than double since the International Monetary Fund's $3 billion loan deal.

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