Midday Report: KSE-100 index loses 471pts

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MG News | August 29, 2023 at 11:11 AM GMT+05:00

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August 29, 2023 (MLN): The benchmark KSE-100 index continued its downward trend on Tuesday, losing 471 points or 0.99% DoD to trade at 47,007.7 [11:10am PST].

The market sentiment has been dampened by the rising political uncertainty within the country.

Market participants are also closely monitoring the upcoming CPI data due on Friday, which will be pivotal for the next MPC meeting on September 14 wherein experts are of a view of a rate hike.

Meanwhile, the Pakistani Rupee (PKR) has slipped by another 0.9 rupees against US Dollar in the interbank market during intraday trade.

This shift in the index's performance followed the release of earnings by Systems Limited (SYS).

Notably, the company's profitability exhibited a noteworthy increase of 72.69% YoY in the first half of CY23. During this period, the company achieved a profit after tax amounting to Rs4.82bn, resulting in an Earnings Per Share (EPS) of Rs16.59.

SYS led as the primary company impacting the index negatively, contributing 161.55 points, this was followed by POL with 29.25, PPL with 25.33, ENGRO with 18.57, and HBL with 17.51 points.

Sector-wise, the KSE-100 Index was let down by Technology & Communication with 149.58, Oil & Gas Exploration Companies with 69.92, Commercial Banks with 69.87, Fertilizer with 33.11, and Cement with 29.97 points.

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Name Price/Vol %Chg/NChg
KSE100 138,665.50
299.28M
1.68%
2285.53
ALLSHR 85,699.50
778.48M
1.24%
1051.15
KSE30 42,353.14
103.20M
1.94%
806.91
KMI30 195,182.04
107.99M
1.81%
3462.27
KMIALLSHR 56,389.15
437.73M
1.01%
561.42
BKTi 38,422.98
17.31M
1.57%
595.37
OGTi 27,718.26
13.25M
0.17%
47.58
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 119,735.00 120,265.00
117,720.00
105.00
0.09%
BRENT CRUDE 69.58 69.63
68.27
1.06
1.55%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
0.95
0.99%
ROTTERDAM COAL MONTHLY 105.00 105.00
105.00
-0.15
-0.14%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 67.62 67.69
66.29
1.24
1.87%
SUGAR #11 WORLD 16.75 16.88
16.54
0.19
1.15%

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