January 16, 2024 (MLN): The benchmark KSE-100 index extended its downslide on Tuesday, closing the session at 63,737.46 with a decrease of 531.91 points or 0.83%.
The index traded in a range of 848.74 points showing an intraday high of 64,246.68 (+-22.70) and a low of 63,397.94 (-871.43) points.
The total volume of the KSE-100 index was 234.389 million shares.
PSMC’s buyback announcement dampened the market sentiment, with the company’s share price dropping 7.5% today.
The Voluntary Delisting Committee (VDC) of PSX on Monday disclosed the minimum buyback price for PSMC, which is set at Rs609, which was significantly lower than yesterday's closing of Rs774.6 per share.
In today's session, of the 100 index companies 23 closed up, 72 closed down, 2 were unchanged, while 3 remained untraded.
KSE-100 index was let down by Oil & Gas Exploration Companies with 170.52, Power Generation & Distribution with 64.9, Fertilizer with 53.5, Cement with 48.19, and Miscellaneous with 43.74 points.
On the flip-side, the index was supported by Technology & Communication with 34.75, Refinery with 12.87, Transport with 4.15, Food & Personal Care Products with 3.97, and Close – End Mutual Fund with 1.13 points.
Companies that dragged the index lower were PPL with 111.09, OGDC with 75.91, HUBC with 63.01, PSEL with 40.35 and ENGRO with 29.7 points.
On the other hand, companies that added points to the index were PTC with 18.01, NESTLE with 13.79, SYS with 13.24, MARI with 13.01, and BAFL with 11.87 points.
In the broader market, the All-Share index closed at 43,173.72 with a net loss of 269.78 points.
Total market volume was 407.356 million shares compared to 381.734 from the previous session while traded value was recorded at Rs12.63 billion showing a decrease of Rs1.43bn.
There were 168,191 trades reported in 336 companies with 91 closing up, 218 closing down and 27 remaining unchanged.
| Company | Volume |
|---|---|
| KEL | 50,782,057 |
| PTC | 48,565,635 |
| WTL | 32,110,497 |
| PIAA | 31,340,000 |
| PIBTL | 16,192,000 |
| CNERGY | 15,895,159 |
| AIRLINK | 13,863,778 |
| HASCOL | 13,214,500 |
| PRL | 13,193,998 |
| PPL | 10,704,013 |
To note, the KSE-100 has gained 22,285 points or 53.76% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,286 points, equivalent to 2.06%.
Copyright Mettis Link News
Posted on: 2024-01-16T16:21:00+05:00
