PSX Closing Bell: Free Fall

January 26, 2024 (MLN): A market-wide sell-off was witnessed in today's session, with most of the stocks taking a beating.

The benchmark KSE-100 index closed at 63,813.06, down 484.94 points or 0.75%.

The index traded in a range of 790.90 points showing an intraday high of 64,534.30 (+236.29) and a low of 63,743.40 (-554.60) points.

The total volume of the KSE-100 index was 212.491 million shares.

Of the 100 index companies 21 closed up, 70 closed down, 5 were unchanged, while 4 remained untraded.

KSE-100 index was let down by Commercial Banks with 134.79, Fertilizer with 131.89, Technology & Communication with 62.23, Cement with 51.37, and Power Generation & Distribution with 35.67 points.

On the flip-side, the index was supported by Oil & Gas Exploration Companies with 43.52, Automobile Assembler with 13.48, Cable & Electrical Goods with 2.34, Sugar & Allied Industries with 0.88, and Real Estate Investment Trust with 0.84 points.

Companies that dragged the index lower were MARI with 66.69, FFC with 61.42, MEBL with 34.96, HBL with 32.79 and BAHL with 30.28 points.

On the other hand, companies that added points to the index were OGDC with 118.75, HMB with 15.04, INDU with 10.65, ABL with 5.18, and LCI with 4.82 points.

In the broader market, the All-Share index closed at 43,213.11 with a net loss of 169.32 points.

Total market volume was 412.823 million shares compared to 460.691 from the previous session while traded value was recorded at Rs16.19 billion showing a decrease of Rs9.07bn.

There were 167,655 trades reported in 341 companies with 98 closing up, 221 closing down and 22 remaining unchanged.

To note, the KSE-100 has gained 22,360 points or 53.94% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,362 points, equivalent to 2.18%.

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