PSX Closing Bell: Blues for a Red Planet

February 24, 2022 (MLN): Pakistan’s stock market tumbled nearly 3% DoD as it witnessed a massive sell-off after Russian President Vladimir Putin announced a special "military operation" in eastern Ukraine which was a full-scale invasion.

As a result, international oil prices broke above $100 a barrel for the first time since 2014, which dampened the investors’ interest throughout the day. The activities further blackened as the cut-off yields were increased in yesterday’s T-bills auction.

Accordingly, the benchmark KSE-100 index opened deep in the negative territory, tumbling over 1,300 points or 3% DoD to settle at 43,830 mark.

On the flip side, robust corporate results of HBL, TREET, PREMA, KTML, and  NATF has limited the downside movement of the index.

The Index remained negative throughout the session touching an intraday low of 43,792.17

Of the 97 traded companies in the KSE100 Index 5 closed up 87 closed down, while 5 remained unchanged. Total volume traded for the index was 136.26 million shares.

Sector wise, the index was let down by Commercial Banks with 262 points, Cement with 181 points, Technology & Communication with 176 points, Fertilizer with 116 points and Oil & Gas Exploration Companies with 79 points.

The most points taken off the index was by HBL which stripped the index of 89 points followed by LUCK with 83 points, SYS with 79 points, TRG with 76 points and ENGRO with 52 points.

Sectors propping up the index were

The most points added to the index was by SCBPL which contributed 4 points followed by INDU with 1 point, CEPB with 1 point and EFUG with 1 point.

All Share Volume increased by 163.70 Million to 350.06 Million Shares. Market Cap decreased by Rs.204.15 Billion.

Total companies traded were 377 compared to 348 from the previous session. Of the scrips traded 36 closed up, 317 closed down while 24 remained unchanged.

Total trades increased by 28,312 to 123,693.

Value Traded increased by 1.95 Billion to Rs.8.75 Billion

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