PSX Closing Bell: Everybody's Gotta Learn Sometime

March 24, 2023 (MLN): The capital market on Friday witnessed notable selling pressure as the lack of progress in the IMF deal has left investors uncertain about the future of the economy. 

Additionally, political noise and uncertainty have added to the already volatile situation, as investors are keeping a close eye on any developments that could affect the market's direction.

Accordingly, the benchmark KSE100 index ended the trading session on Friday with a loss of 434.05 points to settle at 39,942.05, marking an intraday low of 39,923.10.

Of the 91 traded companies in the KSE100 Index 12 closed up 76 closed down, while 3 remained unchanged. The total volume traded for the index was 19.49 million shares.

Sector-wise, the index was let down by Oil & Gas Exploration Companies with 62 points, Technology & Communication with 61 points, Miscellaneous with 48 points, Commercial Banks with 47 points and Cement with 40 points.

The most points taken off the index was by PSEL which stripped the index of 47 points followed by TRG and SYS with 28 points each, PPL with 26 points and OGDC with 23 points.

Sectors propping up the index were Sugar & Allied Industries with 4 points, Food & Personal Care Products, Insurance and Modarabas with 2 points each and Leather & Tanneries with 1 point.

The most points added to the index were by NESTLE which contributed 6 points followed by SML with 4 points, BAFL with 3 points, AICL and FHAM with 2 points each.

All Share Volume decreased by 101.72mn to 46.73mn shares. Market Cap decreased by Rs64.66 billion.

The total companies traded were 290 compared to 320 from the previous session. Of the scrips traded 77 closed up, 194 closed down and 19 remained unchanged.

Total trades decreased by 42,009 to 38,489.

Value Traded decreased by 2.62bon to Rs1.29bn.

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