PSX Closing Bell: Fading Glory

October 18, 2024 (MLN): Pakistan stocks dropped for the second consecutive session after hitting their 40th record, with the benchmark KSE-100 Index shedding 335.34 points or 0.39% to close at 85,250.09.

The index traded in a range of 652.92 points showing an intraday high of 85,773.82 (+188.39) and a low of 85,120.90 (-464.53) points.

The total volume of the KSE-100 Index was 152.92 million shares.

Of the 100 index companies 42 closed up, 53 closed down, while 5 were unchanged.

Top losers during the day were BNWM (-6.92%), NRL (-5.15%), YOUW (-4.85%), EFUG (-4.04%), and POL (-3.83%).

On the other hand, top gainers were FCEPL (+9.97%), PAKT (+6.42%), PSX (+5.90%), HUBC (+5.12%), and ABOT (+3.06%).

In terms of index-point contributions, companies that dragged the index lower were FFC (-137.94pts), POL (-94.29pts), PPL (-57.04pts), OGDC (-48.21pts), and EFERT (-48.00pts).

Meanwhile, companies that added points to the index were HUBC (+156.06pts), PAKT (+29.27pts), BAFL (+20.12pts), MARI (+16.09pts), and ABOT (+16.00pts).

Sector-wise, KSE-100 Index was let down by Fertilizer (-208.05pts), Oil & Gas Exploration Companies (-183.45pts), Oil & Gas Marketing Companies (-68.14pts), Cement (-53.26pts), and Refinery (-12.36pts).

While the index was supported by Power Generation & Distribution (+158.03pts), Tobacco (+29.27pts), Food & Personal Care Products (+24.20pts), Inv. Banks / Inv. Cos. / Securities Cos. (+17.08pts), and Chemical (+14.21pts).

In the broader market, the All-Share Index closed at 54,927.24 with a net loss of 16.79 points or 0.03%.

Total market volume was 323.92 million shares compared to 513.29m from the previous session while traded value was recorded at Rs15.68 billion showing a decrease of Rs5.93bn.

There were 210,383 trades reported in 442 companies with 168 closing up, 205 closing down, and 69 remaining unchanged.

To note, the KSE-100 has gained 6,805 points or 8.68% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 22,799 points, equivalent to 36.51%.

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