PSX Closing Bell: KSE-100 Index nosedives by 566.79 points

February 14, 2023 (MLN): Pakistan equities on Tuesday witnessed a downside trend as investors’ sentiments were crushed as the government increased gas prices for various industries to meet IMF’s conditions.

As a result, the benchmark KSE-100 Index ended the trading session today with a 566.79 point or 1.36% decline to settle at 41,150.16.

The investors also lost their confidence in the local bourse as reports indicate that the fund is urging the government to implement a substantial increase in interest rates in order to combat the country's rising inflation.

The Index traded in a range of 801.88 points or 1.92% of the previous close, showing an intraday high of 41,848.01 and a low of 41,046.13.

Of the 88 traded companies in the KSE100 Index 15 closed up 70 closed down, while 3 remained unchanged.

The total volume traded for the index was 107.82 million shares.

Sector-wise, the index was let down by Technology & Communication with 148 points, Oil & Gas Exploration Companies with 132 points, Commercial Banks with 106 points, Cement with 58 points, and Oil & Gas Marketing Companies with 31 points.

The most points taken off the index were by TRG which stripped the index of 90 points followed by OGDC with 83 points, PPL with 56 points, SYS with 54 points, and HBL with 50 points.

Sectors propping up the index were Fertilizer with 20 points, Tobacco with 10 points, Automobile Parts & Accessories with 6 points, Glass & Ceramics with 2 points, and Real Estate Investment Trust with 1 point.

The most points added to the index were by EFERT which contributed 38 points followed by POL with 19 points, PAKT with 9 points, RMPL with 8 points, and FATIMA with 6 points.

All Share Volume decreased by 4.88mn to 187.53mn shares. Market Cap decreased by Rs75.98bn.

The total number of companies traded was 316 compared to 318 from the previous session. Of the scrips traded 79 closed up, 208 closed down and 29 remained unchanged.

Total trades increased by 7,409 to 116,652.

Value traded increased by 0.20bn to Rs.7.86bn.

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