PSX Closing Bell: KSE-100 index loses 72.73 points

December 06, 2022 (MLN): KSE-100 experienced a range-bound session on Tuesday and a lack of investors participation was witnessed during the market hours which led the benchmark KSE-100 index to lose 72.73 points (0.17% DoD), marking an intraday low of 41,296.54.

Accordingly, the session closed at 41,539.94 points.

Throughout the day market remained under pressure due to political uncertainty in the country, weak macroeconomic indicators, delays in Pak-IMF talks, and government debt stocks hit a historic high of Rs50.152 trillion.

Although, the news of the Russian government providing petrol, and LNG at discounted rates does not trigger positive sentiments among investors.

Arif Habib Commodities, Chief Executive Officer Ahsan Mehanti said that Stocks closed lower amid thin activity on global equity selloff and the slump in global crude oil prices.

He further added, “Uncertainty over the outcome of Pak-IMF talks played a catalyst role in bearish close”.

By the session’s end, the total volumes of the KSE-100 index stood at 46.39mn shares, decreased by 17.76% DoD from 56.41mn shares traded on Monday.

Shares of 92 companies were traded on Friday, of which 58 recorded a fall, 33 registered an increase, whereas one remains unchanged.

In terms of sectors, most of the negative contributors were automobile assembler, chemical, and pharmaceuticals which negatively contributed 64.97 points. On the flip side, the technology sector closed the session positively, gaining 36.24 points by the day’s end.

Meanwhile, the volume leaders on the benchmark index were TRG (3.64mn), CNERGY (3.48mn), SNGP (3.32mn), PIOC (2.61mn), and MLCF (2.59mn).

The stocks that emerged as net losers during the day included: COLG (1.97%), PAKT (3.96%), MTL (2.23%), ABOT (2.51%), and ICI (1.46%). On the other hand, the scrips which gained the most during the session included PSEL (5.32%), ARPL (2.07%), POL (0.76%), MUREB (0.79%), and SYS (0.53%).

Copyright Mettis Link News