PSX Closing Bell: In a Funk

February 23, 2023 (MLN): The local bourse witnessed a selling spree on Thursday as the investors' sentiments were crushed by the news reports of the expected rate hike of 200 bps by the central bank within this week which led to the benchmark KSE100 index ended the trading session with a loss of 329.09 points to close at 40,838.51.

The Index traded in a range of 429.94 points or 1.04%t of the previous close, showing an intraday high of 41,203.25 and a low of 40,773.31.

Of the 93 traded companies in the KSE100 Index 21 closed up 70 closed down, while 2 remained unchanged. The total volume traded for the index was 94.58 million shares.

Sector-wise, the index was let down by Commercial Banks with 80 points, Oil & Gas Exploration Companies with 79 points, Technology & Communication with 48 points, Cement with 39 points, and Oil & Gas Marketing Companies with 21 points.

The most points taken off the index was by PPL which stripped the index of 48 points followed by HBL with 40 points, OGDC with 37 points, TRG with 23 points, and SYS with 22 points.

Sectors propping up the index were Power Generation & Distribution with 32 points, Automobile Assembler with 9 points, Automobile Parts & Accessories with 4 points, and Property with 2 points.

The most points added to the index were by HUBC which contributed 29 points followed by POL with 10 points, KAPCO and MTL with 7 points each, and THALL with 4 points.

All Share Volume decreased by 46.28mn to 150.26mn shares. Market Cap decreased by Rs56.05 billion.

The total companies traded were 319 compared to 331 from the previous session. Of the scrips traded 75 closed up, 220 closed down and 24 remained unchanged.

Total trades decreased by 4,834 to 91,451.

Value Traded decreased by 0.64bn to Rs5.77bn

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