PSX Closing Bell: Everybody Knows This Is Nowhere

May 23, 2022 (MLN): The capital markets witnessed selling pressure throughout the day ahead of the monetary policy committee (MPC) meeting in the evening today.

The bearish session gripped the market due to expectations of a sharp hike of above 100 basis points in the policy rate.

The political tensions and uncertainty looming over the International Monetary program (IMF) have also dented investors’ sentiments.

Making an intraday low of 42,341.65, the benchmark KSE-100 index closed the trading session at 42,440.25, down by 660.46 points or 1.53% DoD.

The Index remained negative throughout the session touching an intraday low of 42,341.65

Of the 95 traded companies in the KSE100 Index 10 closed up 81 closed down, while 4 remained unchanged. Total volume traded for the index was 54.45 million shares.

Sector wise, the index was let down by Cement with 121 points, Fertilizer with 89 points, Oil & Gas Exploration Companies with 80 points, Technology & Communication with 72 points and Commercial Banks with 63 points.

The most points taken off the index was by LUCK which stripped the index of 67 points followed by SYS with 56 points, HUBC with 38 points, FFC with 31 points and OGDC with 29 points.

Sectors propping up the index were Real Estate Investment Trust with 1 points.

The most points added to the index was by MUREB which contributed 5 points followed by HMB with 2 points, BAFL with 1 point, DCR with 1 point and SEARL with 1 point.

All Share Volume decreased by 70.94 Million to 118.99 Million Shares. Market Cap decreased by Rs.96.04 Billion.

Total companies traded were 314 compared to 321 from the previous session. Of the scrips traded 48 closed up, 250 closed down while 16 remained unchanged.

Total trades decreased by 2,729 to 67,965.

Value Traded decreased by 0.25 Billion to Rs.3.58 Billion

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