PSX Closing Bell: Nothing Lasts Forever

October 31, 2024 (MLN): Pakistan stocks fell for the second consecutive session on Thursday as traders took profits following a record-breaking rally.

The benchmark KSE-100 Index closed at 88,966.76, showing a decrease of 1,319.80 points or 1.46%.

On a monthly basis, the index jumped 9.7% in October to score its best monthly return since November last year.

It is up 26,516 points or 42.46% so far this year.

Throughout today's session, the index traded in a range of 1,636.89 points showing an intraday high of 90,700.23 (+413.67) and a low of 89,063.34 (-1,223.22) points.

The total volume of the KSE-100 Index was 287.74 million shares.

Of the 100 index companies 27 closed up, 72 closed down, while 1 was unchanged.

Top losers during the day were EFUG (-8.01%), KOHC (-7.59%), NBP (-6.79%), HGFA (-5.37%), and POML (-5.29%).

On the other hand, top gainers were PGLC (+10.03%), KAPCO (+6.41%), BOP (+5.24%), TRG (+4.48%), and KEL (+4.23%).

In terms of index-point contributions, companies that dragged the index lower were MCB (-138.51pts), HBL (-118.40pts), MEBL (-103.18pts), ENGRO (-96.99pts), and EFERT (-94.39pts).

Meanwhile, companies that added points to the index were TRG (+27.33pts), KAPCO (+26.16pts), SAZEW (+25.42pts), KEL (+16.10pts), and BOP (+12.98pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-564.55pts), Fertilizer (-221.00pts), Cement (-154.55pts), Oil & Gas Exploration Companies (-132.19pts), and Technology & Communication (-58.68pts).

While the index was supported by Power Generation & Distribution (+30.04pts), Property (+4.32pts), Automobile Parts & Accessories (+2.15pts), Synthetic & Rayon (+1.94pts), and Miscellaneous (+1.90pts).

In the broader market, the All-Share Index closed at 56,913.69 with a net loss of 728.66 points or 1.26%.

Total market volume was 546.27 million shares compared to 614.56m from the previous session while traded value was recorded at Rs24.12 billion showing a decrease of Rs3.22bn.

There were 271,840 trades reported in 437 companies with 137 closing up, 240 closing down, and 60 remaining unchanged.

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