PSX Closing Bell: KSE-100 index loses 24.96 points

November 30, 2022 (MLN): KSE-100 benchmark index is down by 24.96 points (0.06%), to close at 42,515.63 points on Wednesday.

While speaking to MG Link News, Chief Executive Officer at Arif Habib Commodities said, Stocks closed lower on economic uncertainty after a surge in government bond yields following SBP’s decision to raise key policy rate last week to 16p% and pressure amid a slump in global equities.

“Political noise, uncertainty over rupee parity, and speculations over the outcome of Pak-IMF talks ahead of the release of the next tranche played a catalyst role in negative close”, he added.

The benchmark KSE-100 index made an intraday high of 42,515.63 and an intraday low of 42,274.16 during the day.

By the session’s end, the total volumes of the KSE-100 index stood at 53.04mn shares, increased by 26.01% DoD from 71.69mn shares traded on Tuesday.

Shares of 93 companies were traded on Wednesday, of which 54 recorded a fall, 37 registered an increase, whereas two remains unchanged.

In terms of sectors, most of the negative contributors were power gencos, commercial banks, and technology which negatively contributed 115.58 points. On the flip side, the oil & gas exploration closed the session positive, gaining 35.59 points by the day’s end.

Meanwhile, the volume leaders on the benchmark index were KEL (5.66mn), TRG (4.70mn), PIBTL (3.90mn), UNITY (3.28mn), and DGKC (2.16mn).

The stocks that emerged as net losers during the day included: NESTLE (1.53%), ICI (0.94%), POML (4.33%), ABOT (0.85%), and MUREB (1.28%). On the other hand, the scrips which gained the most during the session included RMPL (5.88%), PSEL (7.50%), IBFL (7.50%), MARI (0.67%), and POL (2.24%).

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