PSX Closing Bell: Bridge Over Troubled Water

January 09, 2025 (MLN): The benchmark KSE-100 Index concluded Thursday's trading session at 112,638.26, showing a decrease of 1,510.19 points or 1.32%.

The index traded in a range of 1,735.29 points showing an intraday high of 114,329.95 (+181.50) and a low of 112,594.66 (-1,553.79) points.

The total volume of the KSE-100 Index was 268.88 million shares.

Speaking to Mettis Global, Ali Najib Head of Sales at Insight Securities said that rising uncertainties on the political landscape, absence of any positive trigger and continuous foreign selling can be attributed to the today’s market behaviour. 

Investors are keeping a vigilant eye on the statements coming from the newly elected US administration regarding the arrested Pakistan’s Opposition Leader, he added. 

Any development favouring him could likely have the potential to destabilize the prevailing ruling equation & their policies, he noted. 

Of the 100 index companies 23 closed up, 77 closed down, while 0 were unchanged.

Top losers during the day were KOSM (-8.08%), AIRLINK (-7.60%), PGLC (-7.60%), ENGROH (-6.69%), and MEHT (-6.14%).

On the other hand, top gainers were JDWS (+10.00%), PKGP (+4.07%), LOTCHEM (+2.90%), EFUG (+2.89%), and TGL (+2.09%).

In terms of index-point contributions, companies that dragged the index lower were ENGROH (-207.12pts), MARI (-129.64pts), MEBL (-98.11pts), LUCK (-95.74pts), and EFERT (-84.14pts).

Meanwhile, companies that added points to the index were JDWS (+26.46pts), HBL (+21.78pts), PKGP (+19.89pts), PPL (+12.17pts), and AKBL (+8.95pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-232.63pts), Inv. Banks / Inv. Cos. / Securities Cos. (-208.26pts), Cement (-205.34pts), Technology & Communication (-144.58pts), and Oil & Gas Exploration Companies (-126.60pts).

While the index was supported by Sugar & Allied Industries (+26.46pts), Chemical (+5.28pts), Property (+3.69pts), Real Estate Investment Trust (+0.38pts), and Close - End Mutual Fund (+0.18pts).

In the broader market, the All-Share Index closed at 69,946.89 with a net loss of 796.29 points or 1.13%.

Total market volume was 695.14 million shares compared to 1,099.98m from the previous session while traded value was recorded at Rs24.29 billion showing a decrease of Rs8.17bn.

There were 280,984 trades reported in 453 companies with 89 closing up, 320 closing down, and 44 remaining unchanged.

To note, the KSE-100 has gained 34,193 points or 43.59% during the fiscal year, whereas it has decreased 2,489 points or 2.16% so far this calendar year.

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