May 02, 2024 (MLN): Stocks in Pakistan extended their decline on Thursday, as traders reassessed the policy path going forward after the central bank decided to hold rates at a record for seventh consecutive meeting.

The benchmark KSE-100 index closed Thursday's trading session at 70,657.64 showing a decrease of 444.91 points or 0.63%.

The index traded in a range of 730.71 points showing an intraday high of 71,292.83 (+190.28) and a low of 70,562.12 (-540.42) points.

The total volume of the KSE-100 index was 225.62 million shares.

Of the 100 index companies 30 closed up, 63 closed down, 6 were unchanged, while 1 remained untraded.

KSE-100 index was let down by Fertilizer (172.22pts), Technology & Communication (123.34pts), Commercial Banks (47.6pts), Pharmaceuticals (30.11pts), and Refinery (22.14pts).

On the flip-side, the index was supported by Textile Composite (26.22pts), Cement (18.92pts), Power Generation & Distribution (11.37pts), Cable & Electrical Goods (8.89pts), and Inv. Banks / Inv. Cos. / Securities Cos. (6.98pts).

Companies that dragged the index lower were TRG (57.7pts), EFERT (51.46pts), FFC (50.24pts), ENGRO (46.81pts), and SYS (41.93pts).

On the other hand, companies that added points to the index were BAFL (43.13pts), PPL (35.55pts), ILP (23.92pts), HUBC (20.22pts), and FCCL (15.14pts).

In the broader market, the All-Share index closed at 46,150.31 with a net loss of 403.92 points.

Total market volume was 436.99 million shares compared to 560.55m from the previous session while traded value was recorded at Rs19.02 billion showing a decrease of Rs6.71bn.

There were 213,428 trades reported in 363 companies with 101 closing up, 234 closing down and 28 remaining unchanged.

To note, the KSE-100 has gained 29,205 points or 70.45% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 8,207 points, equivalent to 13.14%.

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Posted on: 2024-05-02T16:23:16+05:00