January 25, 2024 (MLN): Despite yesterday’s drop in auction yields, which experts interpreted as a sign of a possible rate cut at the next MPC meeting on Monday, the market did not seem to agree.

The benchmark KSE-100 index fell 524.43 points or 0.81% to close today's trading session at 64,298.

The index traded in a range of 1,033.16 points showing an intraday high of 65,213.61 (+391.18) and a low of 64,180.45 (-641.98) points.

The total volume of the KSE-100 index was 290.527 million shares.

Of the 100 index companies 33 closed up, 60 closed down, 3 were unchanged, while 4 remained untraded.

KSE-100 index was let down by Oil & Gas Exploration Companies with 367.28, Technology & Communication with 61.07, Power Generation & Distribution with 56.77, Oil & Gas Marketing Companies with 39.4, and Commercial Banks with 35.66 points.

On the flip-side, the index was supported by Fertilizer with 84.84, Chemical with 22.34, Tobacco with 21.77, Engineering with 8.34, and Automobile Parts & Accessories with 1.85 points.

Companies that dragged the index lower were OGDC with 206.93, PPL with 191.13, BAHL with 43.67, HUBC with 39.89 and PSO with 27.72 points.

On the other hand, companies that added points to the index were ENGRO with 53.46, MEBL with 43.39, EFERT with 38.87, MARI with 30.35, and LCI with 23.32 points.

In the broader market, the All-Share index closed at 43,382.43 with a net loss of 407.38 points.

Total market volume was 460.691 million shares compared to 479.982 from the previous session while traded value was recorded at Rs25.25 billion showing an increase of Rs2.72bn.

There were 201,426 trades reported in 352 companies with 101 closing up, 233 closing down and 18 remaining unchanged.

To note, the KSE-100 has gained 22,845 points or 55.11% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,847 points, equivalent to 2.96%.

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Posted on: 2024-01-25T16:21:02+05:00