PSX Closing Bell: Mellow Drop

May 08, 2024 (MLN): The benchmark KSE-100 index ended Wednesday's trading session at 72,601.82 showing a decrease of 159.38 points or 0.22%.

The index traded in a range of 720.99 points showing an intraday high of 73,079.18 (+317.98) and a low of 72,358.19 (-403.01) points.

The total volume of the KSE-100 index was 254.87 million shares.

Of the 100 index companies 35 closed up, 60 closed down, 4 were unchanged, while 1 remained untraded.

KSE-100 index was let down by Inv. Banks / Inv. Cos. / Securities Cos. (95.22pts), Cement (67.69pts), Commercial Banks (28.06pts), Food & Personal Care Products (25.9pts), and Automobile Assembler (19.46pts).

On the flip-side, the index was supported by Pharmaceuticals (42.72pts), Power Generation & Distribution (41.72pts), Leather & Tanneries (36.94pts), Oil & Gas Exploration Companies (16.88pts), and Automobile Parts & Accessories (13.04pts).

Companies that dragged the index lower were DAWH (92.17pts), EFERT (35.05pts), LUCK (32.27pts), MCB (28.27pts), and UBL (22.66pts).

On the other hand, companies that added points to the index were SRVI (36.94pts), FFC (35.49pts), KEL (24.51pts), HINOON (20.28pts), and OGDC (16.77pts).

In the broader market, the All-Share index closed at 47,102.38 with a net loss of 133.29 points.

Total market volume was 970.33 million shares compared to 621.83m from the previous session while traded value was recorded at Rs23.51 billion showing a decrease of Rs1.46bn.

There were 244,358 trades reported in 388 companies with 149 closing up, 208 closing down and 31 remaining unchanged.

WTL was the volume leader with almost 408m shares changing hands, after it announced that its holding company, Global Tech Corporation (GTC) had started trading on NASDAQ.

Its shares rose around 18% today compared to the previous close.

To note, the KSE-100 has gained 31,149 points or 75.14% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 10,151 points, equivalent to 16.25%.

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