February 20, 2023 (MLN): The Pakistan Stock Exchange (PSX) saw a sharp decline in investor confidence on Monday as the KSE-100 Index lost over 444.97 points or a 1.08% decline to close at 40,673.64 due to a deteriorating law and order situation, political upheaval, and an ongoing economic crisis.
Investors appeared to be spooked by a terrorist attack on the Karachi Police Office building that resulted in four fatalities and 19 injuries, as well as inflationary pressures and rising tensions ahead of the upcoming monetary policy announcement.
According to news reports, the SBP and IMF have discussed the potential for additional monetary policy tightening and the accumulation of foreign exchange reserves by the end of June 2023.
This news has also contributed to the selling pressure on the PSX, as investors sought to mitigate their exposure to risk.
The Index traded in a range of 545.39 points or 1.33 percent of the previous close, showing an intraday high of 41,169.44 and a low of 40,624.05.
Of the 93 traded companies in the KSE100 Index 19 closed up 70 closed down, while 4 remained unchanged. The total volume traded for the index was 54.10 million shares.
Sector-wise, the index was let down by Oil & Gas Exploration Companies with 139 points, Commercial Banks with 95 points, Fertilizer with 45 points, Oil & Gas Marketing Companies with 41 points, and Cement with 33 points.
The most points taken off the index were by OGDC which stripped the index of 83 points followed by PPL with 70 points, HBL with 39 points, TRG with 25 points, and MEBL with 21 points.
Sectors propping up the index were Tobacco with 10 points, Technology & Communication with 6 points, Textile Composite with 4 points, and Insurance with 2 points.
The most points added to the index were by SYS which contributed 37 points followed by POL with 14 points, PAKT with 9 points, KTML with 5 points, and NML with 4 points.
All Share Volume decreased by 17.65mn to 92.72mn shares. Market Cap decreased by Rs73.09 billion.
The total companies traded were 313 compared to 317 from the previous session. Of the scrips traded 65 closed up, 225 closed down and 23 remained unchanged.
Total trades increased by 6,839 to 79,975.
Value Traded decreased by 0.22bn to Rs4.46bn.
| Company | Volume |
|---|---|
| Worldcall Telecom | 6,395,078 |
| Oil & Gas Development Company | 5,383,683 |
| TRG Pakistan | 4,393,644 |
| Cnergyico PK | 4,134,453 |
| The Bank of Punjab | 3,994,000 |
| Pakistan Refinery | 3,591,351 |
| Maple Leaf Cement Factory | 3,166,596 |
| Sui Northern Gas Pipelines | 3,158,758 |
| Pakistan Petroleum | 2,746,458 |
| Hascol Petroleum | 2,543,000 |
| Sector | Volume |
|---|---|
| Technology & Communication | 14,582,938 |
| Commercial Banks | 10,471,390 |
| Refinery | 9,058,408 |
| Oil & Gas Exploration Companies | 8,584,730 |
| Oil & Gas Marketing Companies | 8,574,464 |
| Cement | 8,086,592 |
| Power Generation & Distribution | 6,998,730 |
| Fertilizer | 4,269,157 |
| Chemical | 3,850,157 |
| Automobile Assembler | 3,124,880 |
Copyright Mettis Link News
Posted on: 2023-02-20T17:31:18+05:00
