PSX Closing Bell: Landslide

May 08, 2023 (MLN): Bears finally took back their charge of the local bourse on Monday after 13 consecutive positive sessions as the charm of strong corporate earnings has over and investors moved to their old state of worry pertaining to delay in the IMF tranche and political drama. 

Thus, notable selling pressure was observed across the board which led the benchmark KSE-100 index to lose 412.49 points to close at 41,829.49.

The Index traded in a range of 622.63 points of the previous close, showing an intraday high of 42,390.82 and a low of 41,768.19.

Of the 96 traded companies in the KSE100 Index 19 closed up 74 closed down, while 3 remained unchanged. The total volume traded for the index was 68.75 million shares.

Sector-wise, the index was let down by Technology & Communication with 96 points, Oil & Gas Exploration Companies with 78 points, Cement with 74 points, Commercial Banks with 26 points and Paper & Board with 22 points.

The most points taken off the index was by SYS which stripped the index of 55 points followed by OGDC with 41 points, TRG with 36 points, PPL with 28 points and LUCK with 26 points.

Sectors propping up the index were Tobacco with 11 points, Insurance with 3 points and Property with 2 points.

The most points added to the index was by HMB and FFC which contributed 15 points each followed by BAHL with 14 points, PAKT with 11 points and EFUG with 3 points.

All Share Volume increased by 0.89mn to 179.05mn shares. Market Cap decreased by Rs81.39 billion.

The total companies traded were 340 compared to 352 from the previous session. Of the scrips traded 80 closed up, 236 closed down while 24 remained unchanged.

Total trades increased by 9,308 to 95,616.

Value Traded decreased by 1.01bn to Rs4.76bn.

Copyright Mettis Link News