May 24, 2022 (MLN): Pakistan’s stock market remained in bearish spell today owing to rise in policy rate and possibility of delay in IMF talks as the government is hesitant to lift up the subsidies on petroleum products, have triggered sell-off.

Furthermore, crackdown on PTI's long march announced for tomorrow kept investors sidelined on possible deterioration in country's law and order situation.

Consequently, the benchmark KSE100 index ended the trading session with a 489.93 point or 1.15 percent decline to close at 41,950.32.

The Index traded in a range of 718.99 points or 1.69 percent of previous close, showing an intraday high of 42,636.54 and a low of 41,917.55.

Of the 92 traded companies in the KSE100 Index 17 closed up 70 closed down, while 5 remained unchanged. Total volume traded for the index was 76.03 million shares.

Sector wise, the index was let down by Commercial Banks with 109 points, Technology & Communication with 75 points, Cement with 72 points, Fertilizer with 56 points and Chemical with 25 points.

The most points taken off the index was by SYS which stripped the index of 95 points followed by UBL with 48 points, FFC with 35 points, LUCK with 32 points and HUBC with 22 points.

Sectors propping up the index were

The most points added to the index was by TRG which contributed 19 points followed by POL with 7 points, HBL with 5 points, INDU with 3 points and FCEPL with 3 points.

All Share Volume increased by 50.72 Million to 169.71 Million Shares. Market Cap decreased by Rs.56.95 Billion.

Total companies traded were 318 compared to 314 from the previous session. Of the scrips traded 94 closed up, 208 closed down while 16 remained unchanged.

Total trades increased by 23,067 to 91,032.

Value Traded increased by 1.86 Billion to Rs.5.44 Billion

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