December 15, 2022 (MLN): Pakistan Stock Exchange on Thursday remained in the red zone throughout the day as weak economic indicators and resultant industrial closures due to energy shortage have crushed investors’ sentiments.
Furthermore, the country’s remittances decreased by 14.3% YoY in November 2022 to $2.1bn and surging T-Bill Yields.
On the industrial side, Large Scale Manufacturing Industries (LSMI) output decreased by 7.75% YoY in October 2022 as compared to October 2021 and 3.62% MoM as compared to September 2022, a report released by Pakistan Bureau of Statistics.
Arif Habib Commodities, Chief Executive Officer Ahsan Mehanti said, security unrest at the Pak-Afghan border, economic instability, and investor concerns for the outcome of Pak-IMF talks over the 9th review played a catalyst role in bearish close.
As a result, the benchmark KSE-100 index lost 557.86 points (1.34% DoD) to close at 41,179.76.
The benchmark KSE-100 index made an intraday high of 41,996.82 and an intraday low of 41,109.95 during the day.
By the session’s end, the total volumes of the KSE-100 index stood at 137.45mn shares, decreased by 61.39% DoD from 53.07mn shares traded on Wednesday.
Shares of 89 companies were traded on Thursday, of which 78 recorded a fall, and 11 registered an increase.
In terms of sectors, most of the negative contributors were commercial banks, oil & gas exploration, and technology which negatively contributed 354.39 points. On the flip side, the miscellaneous closed the session positively, gaining 32.09 points by the day’s end.
Meanwhile, the volume leaders on the benchmark index were BAFL (41.17mn), KEL (10.06mn), FCCL (7.09mn), CNERGY (5.66mn), and BOP (4.67mn).
The stocks that emerged as net losers during the day included: UPFL (4%), RMPL (3.97%), MARI (1.53%), MTL (3.35%), and NESTLE (0.35%). On the other hand, the scrips which gained the most during the session included PSEL (5.54%), ENGRO (2.86%), ATLH (1.04%), DAWH (3.13%), and FATIMA (4.72%).
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Posted on: 2022-12-15T17:19:55+05:00
