PSX Closing Bell: Bear With Me

March 22, 2024 (MLN): Bears continued their dominance at the Pakistan Stock Exchange (PSX) on Friday, with the benchmark KSE-100 index falling 265.57 points or 0.41% to 65,151.83

The index traded in a range of 477.37 points showing an intraday high of 65,534.02 (+116.62) and a low of 65,056.66 (-360.74) points.

The total volume of the KSE-100 index was 83.028 million shares, the lowest since September 2023.

Of the 100 index companies 33 closed up, 59 closed down, 2 were unchanged, while 6 remained untraded.

KSE-100 index was let down by Commercial Banks with 59.52, Oil & Gas Exploration Companies with 53.58, Power Generation & Distribution with 35.02, Fertilizer with 27.55, and Food & Personal Care Products with 25.82 points.

On the flip-side, the index was supported by Miscellaneous with 18.73, Paper & Board with 4.68, Textile Composite with 1.86, Real Estate Investment Trust with 0.69, and Modarabas with 0.12 points.

Companies that dragged the index lower were OGDC with 43.74, UBL with 40.08, HBL with 36.85, HUBC with 35.87 and PTC with 22.02 points.

On the other hand, companies that added points to the index were NBP with 40.57, PSEL with 17, MEBL with 11.33, TRG with 7.63, and SYS with 6.33 points.

In the broader market, the All-Share index closed at 43,240.78 with a net loss of 259.14 points.

Total market volume was 208.409 million shares compared to 389.655 from the previous session while traded value was recorded at Rs7.15 billion showing a decrease of Rs4.16bn.

There were 100,007 trades reported in 328 companies with 117 closing up, 184 closing down and 27 remaining unchanged.

To note, the KSE-100 has gained 23,699 points or 57.17% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,701 points, equivalent to 4.32%.

Copyright Mettis Link News