KSE-100 index takes a hit, drops 628pts in early trading hours

January 29, 2024 (MLN): Pakistan stock market kicks off the week on a negative note, with the benchmark KSE-100 index falling 628.33 points or 0.98% to trade at 63,184.74 [10:20am PST].

The Monetary Policy Committee meeting later today is drawing the attention of investors, wherein the central bank is widely anticipated to keep the policy rate unchanged.

Meanwhile, some are hoping for a marginal rate cut.

KSE-100 index has traded a volume of 19.534 million shares.

KSE-100 index is being let down by Fertilizer with 138.49, Commercial Banks with 135.75, Oil & Gas Exploration Companies with 111.02, Oil & Gas Marketing Companies with 40.79, and Cement with 39.84 points.

Companies dragging the index lower are EFERT with 81.35, PPL with 56.52, OGDC with 45.06, MEBL with 39.27 and MCB with 30.37 points.

In the broader market, the All-Share index is trading at 42,871.61 with a net loss of 341.49 points.

To note, the KSE-100 has gained 21,732 points or 52.43% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 734 points, equivalent to 1.17%.

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