PSX Closing Bell: Bad Blood

June 05, 2024 (MLN): Pakistan stock market extended its decline on Wednesday, with the benchmark KSE-100 index losing 447.22 points or 0.6% to 74,219.44, after closing 1.2% lower yesterday.

The index traded in a range of 621.59 points showing an intraday high of 74,758.11 (+91.45) and a low of 74,136.52 (-530.13) points.

The total volume of the KSE-100 index was 138.9 million shares.

Of the 100 index companies 29 closed up, 66 closed down, 4 were unchanged, while 1 remained untraded.

KSE-100 index was let down by Commercial Banks (186.71pts), Oil & Gas Exploration Companies (102.26pts), Cement (39.03pts), Engineering (37.3pts), and Textile Composite (26.05pts).

On the flip-side, the index was supported by Fertilizer (5.27pts), Insurance (4.23pts), Power Generation & Distribution (3.83pts), Leather & Tanneries (2.89pts), and Automobile Assembler (2.52pts).

Companies that dragged the index lower were HBL (58.45pts), OGDC (57.9pts), BAFL (48.79pts), BAHL (38.13pts), and PPL (21.26pts).

On the other hand, companies that added points to the index were EFERT (16.83pts), FABL (12.44pts), TRG (7.9pts), FFC (6.46pts), and HUBC (5.88pts).

In the broader market, the All-Share index closed at 47,962.70 with a net loss of 268.24 points.

Total market volume was 348.55 million shares compared to 414.48m from the previous session while traded value was recorded at Rs16.39 billion showing a decrease of Rs1.93bn.

There were 206,428 trades reported in 441 companies with 127 closing up, 246 closing down and 68 remaining unchanged.

To note, the KSE-100 has gained 32,767 points or 79.05% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 11,768 points, equivalent to 18.84%.

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