PSX Closing Bell: In Cold Blood

October 17, 2024 (MLN): Pakistan stocks sank on Thursday after hitting their 40th record in the previous session, with the benchmark KSE-100 Index shedding 620.23 points or 0.72% to close at 85,585.43.

The index traded in a range of 981.10 points showing an intraday high of 86,520.29 (+314.63) and a low of 85,539.19 (-666.47) points.

The total volume of the KSE-100 Index was 219.88 million shares.

Of the 100 index companies 37 closed up, 58 closed down, while 5 were unchanged.

Top losers during the day were PGLC (-4.97%), HUBC (-4.30%), GLAXO (-3.01%), ATRL (-2.88%), and PTC (-2.83%).

On the other hand, top gainers were PSX (+6.35%), POML (+5.44%), NPL (+5.28%), JDWS (+3.09%), and YOUW (+2.89%).

In terms of index-point contributions, companies that dragged the index lower were HUBC (-136.90pts), MCB (-89.22pts), POL (-59.03pts), PPL (-37.65pts), and FFC (-33.57pts).

Meanwhile, companies that added points to the index were INDU (+19.24pts), HMB (+18.37pts), EFERT (+14.90pts), PSX (+14.25pts), and PAKT (+9.40pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-203.57pts), Oil & Gas Exploration Companies (-144.40pts), Power Generation & Distribution (-137.23pts), Fertilizer (-42.09pts), and Oil & Gas Marketing Companies (-24.54pts).

While the index was supported by Tobacco (+9.40pts), Inv. Banks / Inv. Cos. / Securities Cos. (+8.39pts), Miscellaneous (+6.29pts), Sugar & Allied Industries (+4.92pts), and Transport (+4.40pts).

In the broader market, the All-Share Index closed at 54,944.03 with a net loss of 348.61 points or 0.63%.

Total market volume was 513.29 million shares compared to 474.33m from the previous session while traded value was recorded at Rs21.61 billion showing a decrease of Rs5.33bn.

There were 270,620 trades reported in 450 companies with 173 closing up, 208 closing down, and 69 remaining unchanged.

To note, the KSE-100 has gained 7,140 points or 9.10% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 23,134 points, equivalent to 37.04%.

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