PSX Closing Bell: Mr. Self Destruct

September 15, 2021 (MLN): Following a collapse of PKR against USD that closed new lifetime low of Rs169.12 in the interbank market on Wednesday, the capital market witnessed the selling pressure throughout the trading session.

In today’s interbank session, the PKR traded at 169.55 to a dollar — the lowest ever against the greenback.

Unabated foreign selling coincided with local mutual funds disposing positions on the pretext of redemptions, as per the market closing note by Arif Habib Limited.

Accordingly, the benchmark KSE-100 index ended the trading session on Wednesday with a 174.62 point or 0.37 percent decline to close at 46,716.72. The Index traded in a range of 445.87 points or 0.95 percent of previous close, showing an intraday high of 46,949.56 and a low of 46,503.69.

Of the 96 traded companies in the KSE100 Index 27 closed up 63 closed down, while 6 remained unchanged. Total volume traded for the index was 118.28 million shares.

Sector wise, the index was let down by Cement with 83 points, Textile Composite with 22 points, Pharmaceuticals with 21 points, Oil & Gas Exploration Companies with 20 points and Inv. Banks / Inv. Cos. / Securities Cos. with 18 points.

The most points taken off the index was by MLCF which stripped the index of 21 points followed by HMB with 18 points, SYS with 17 points, AGP with 17 points and MEBL with 16 points.

Sectors propping up the index were Commercial Banks with 45 points, Fertilizer with 17 points, Technology & Communication with 6 points, Insurance with 4 points and Leather & Tanneries with 2 points.

The most points added to the index was by UBL which contributed 30 points followed by TRG with 22 points, FFBL with 16 points, BAHL with 15 points and FABL with 12 points.

All Share Volume decreased by 147.01 Million to 332.79 Million Shares. Market Cap decreased by Rs.24.09 Billion.

Total companies traded were 518 compared to 525 from the previous session. Of the scrips traded 161 closed up, 329 closed down while 28 remained unchanged.

Total trades decreased by 36,441 to 115,927.

Value Traded decreased by 3.60 Billion to Rs.11.44 Billion

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