PSX Closing Bell: Boulevard of Broken Dreams

May 22, 2023 (MLN): The local bourse on Monday witnessed notable selling pressure on the back of rising political temperature and economic instability. 

In addition to it, the melting PKR against the major currencies and plummeting SBP reserves have crushed investors' sentiment. 

Accordingly, the KSE-100 Index closed Monday's trading session at 41,195.06 showing a decrease of 404.12 points.

The index traded in a range of 534.8 points showing an intraday high of 41,690.27 and a low of 41,155.47.

The total Volume of the KSE100 Index was 47.16 million shares.

Of the companies in KSE100 18 closed up, 71 closed down, 2 were unchanged while 9 remained untraded.

KSE100 Index was let down by Commercial Banks with 105.37, Oil & Gas Exploration Companies with 59.89, Technology & Communication with 43.77, Fertilizer with 26.47 and Power Generation & Distribution with 25.14 points.

Companies dragging the index lower were UBL with -46.5, PPL with -27.31, SYS with -25.05, OGDC with -23.86 and FFC with -20.39 points.

KSE100 index was supported by Modarabas with 2.16, Automobile Assembler with 1.78, Inv. Banks / Inv. Cos. / Securities Cos. with 1.31, Transport with 0.45 and Textile Spinning with 0.08 points.

Companies adding points to the index were ENGRO with 11.38, NESTLE with 10.83, HMB with 3.7, FHAM with 2.16 and DAWH with 1.98 points.

In the broader market, the All-Share index closed at 27,396.42 with a net loss of 248.04 points.

The total market volume was 97.77 million shares with the traded value being recorded at 2.87 billion.

There were 62,196 trades reported in 308 companies with 73 closing up, 210 closing down and 25 remaining unchanged.

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