PSX Closing Bell: Like Icarus and the sun

July 10, 2024 (MLN): Pakistan’s stock benchmark took a breather on Wednesday after hitting a record high in the previous session.

The KSE-100 Index declined 830.51 points or 1.03% to 79,841.55, posting its biggest fall since June 04.

The index traded in a range of 1,130.63 points showing an intraday high of 80,971.95 (+299.89) and a low of 79,841.32 (-830.74) points.

The total volume of the KSE-100 Index was 230.91 million shares.

Of the 100 index companies 26 closed up, 71 closed down, while 3 were unchanged.

KSE-100 index was let down by Commercial Banks (-260.88pts), Oil & Gas Exploration Companies (-101.78pts), Power Generation & Distribution (-94.91pts), Cement (-91.49pts), and Fertilizer (-77.66pts).

On the flip-side, the index was supported by Food & Personal Care Products (+32.06pts), Technology & Communication (+6.13pts), Insurance (+5.48pts), Synthetic & Rayon (+3.38pts), and Sugar & Allied Industries (+1.84pts).

Companies that dragged the index lower were HUBC (-115.52pts), PPL (-55.29pts), DAWH (-52.87pts), MTL (-49.95pts), and HBL (-48.38pts).

On the other hand, companies that added points to the index were UNITY (+32.06pts), PKGP (+17.82pts), SYS (+11.18pts), PSX (+9.80pts), and AICL (+7.24pts).

In the broader market, the All-Share index closed at 51,114.52 with a net loss of 366.74 points or 0.71%.

Total market volume was 495.91 million shares compared to 610.26m from the previous session while traded value was recorded at Rs22.12 billion showing a decrease of Rs2.20bn.

There were 267,667 trades reported in 440 companies with 153 closing up, 241 closing down, and 46 remaining unchanged.

Top Ten by Volume

To note, the KSE-100 has gained 1,397 points or 1.78% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 17,391 points, equivalent to 27.85%.

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