January 30, 2023 (MLN): The benchmark KSE-100 index observed a downward trend on Monday, as the market lost 579.26 points (1.43% DoD) to settle at the 39,871.27 level.
The market began the day on a positive note but witnessed selling pressure in the second hour, leading the market to close in the red zone.
The downward session at Pakistan Stock Exchange is attributed inflationary pressure, as the govt increased petrol and diesel prices by Rs35.
The investors are conscious about the outcome of recent visit of IMF officials in Pakistan, political uncertainty, economic concerns, and security issues.
The KSE-100 index made an intraday low of 39,844.39 and an intraday high of 40,666.96 during the day.
By the session’s end, the total volumes of the KSE-100 index stood at 78.51mn shares, decreased by 30.45% DoD from 112.88mn shares traded last week on Friday.
Out of 100, shares of 91 companies were traded on Monday, of which 66 recorded a fall, 21 registered an increase and four remained unchanged.
In terms of sectors, most of the negative contributors were commercial banks, miscellaneous, fertilizer which negatively contributed 308.77 points. On the flip side, the automobile assembler closed the session positive, gaining 8.13 points by the day’s end.
Meanwhile, the volume leaders on the benchmark index were CNERGY (11.81mn), EPCL (6.69mn), PPL (5.12mn), OGDC (5.02mn), and HUBC (4.59mn).
The stocks that emerged as net losers during the day included: PSEL (7.27%), NESTLE (2.27%), LCI (3.46%), HINOON (2.83%), and SRVI (4.70%). On the other hand, the scrips which gained the most during the session included RMPL (7.32%), INDU (2.61%), MARI (1.29%), ATRL (2.65%), and MTL (0.71%).
