PSX Closing Bell: Ain't No Business Like Slow Business

Jan 24, 2022 (MNL):  After witnessing a loss of 745 points during the last week, Pakistan Stock Exchange (PSX) witnessed bearish sentiments on Monday as pessimism prevailed across the board due to an alarming current account deficit of $9 billion for the first half of the ongoing fiscal year amid rising import bill.

Further, soaring international energy and commodity prices also weighed down on investors’ confidence, Aba Ali Habib said in a market closing note.

Consequently, the benchmark KSE-100 index ended the trading session with a 94.37 point or 0.21 percent decline to close at 44,923.91.

The Index traded in a range of 248.22 points or 0.55 percent of previous close, showing an intraday high of 45,045.06 and a low of 44,796.84.

Of the 90 traded companies in the KSE100 Index 30 closed up 58 closed down, while 2 remained unchanged. Total volume traded for the index was 88.54 million shares.

Sector wise, the index was let down by Technology & Communication with 72 points, Cement with 25 points, Commercial Banks with 17 points, Refinery with 14 points and Engineering with 9 points.

The most points taken off the index was by TRG which stripped the index of 53 points followed by SYS with 17 points, HBL with 12 points, UBL with 12 points and CNERGY with 7 points.

Sectors propping up the index were Fertilizer with 49 points, Oil & Gas Marketing Companies with 12 points, Power Generation & Distribution with 7 points, Close - End Mutual Fund with 3 points and Insurance with 3 points.

The most points added to the index was by FFC which contributed 24 points followed by EFERT with 22 points, PSO with 15 points, HUBC with 13 points and MCB with 12 points.

All Share Volume decreased by 15.92 Million to 160.21 Million Shares. Market Cap decreased by Rs.23.12 Billion.

Total companies traded were 325 compared to 342 from the previous session. Of the scrips traded 96 closed up, 214 closed down while 15 remained unchanged.

Total trades decreased by 14,868 to 84,087.

Value Traded decreased by 1.33 Billion to Rs.5.74 Billion

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