PSX Closing Bell: Highway to Hell...

May 11, 2022 (MLN): Domestic equities witnessed a massive sell-off session today amid economic and political uncertainty.

Moreover, negative rupee-dollar parity further triggered selling activity which continued throughout the day, leading the index to close at 42,863 points, down by 641 points or 1.47% WoW.

The expected rise in the policy rate in the upcoming MPC meeting and lack of clarity regarding the IMF programme and $7.4bn Saudi Package kept the investors’ interest aside.

Furthermore, MSCI review is scheduled for tomorrow where market is expected to remain under pressure.

The Index traded in a range of 1250.46 points or 2.87 percent of previous close, showing an intraday high of 43,642.39 and a low of 42,391.93.

Of the 96 traded companies in the KSE100 Index 10 closed up 84 closed down, while 2 remained unchanged. Total volume traded for the index was 167.55 million shares.

Sector wise, the index was let down by Commercial Banks with 109 points, Fertilizer with 71 points, Cement with 64 points, Power Generation & Distribution with 51 points and Chemical with 40 points.

The most points taken off the index was by HUBC which stripped the index of 44 points followed by FFC with 32 points, UBL with 31 points, SYS with 26 points and DAWH with 20 points.

The most points added to the index was by BAHL which contributed 6 points followed by OGDC with 3 points, AICL with 3 points, HBL with 2 points and PPL with 2 points.

All Share Volume increased by 104.68 Million to 338.54 Million Shares. Market Cap decreased by Rs.110.61 Billion.

Total companies traded were 359 compared to 337 from the previous session. Of the scrips traded 47 closed up, 296 closed down while 16 remained unchanged.

Total trades increased by 25,364 to 125,609.

Value Traded increased by 2.67 Billion to Rs.9.53 Billion

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