PSX Closing Bell: On Alert

June 10, 2024 (MLN): The benchmark KSE-100 index closed Monday's trading session at 73,252.56 showing a decrease of 501.46 points or 0.68%.

Investors remained cautious ahead of the monetary policy meeting scheduled for later today, which will offer more clarity to the market.

The central bank is widely expected to begin an easing cycle after nearly four years, as inflationary pressures ease, while concerns over low economic growth continue to crawl.

The index traded in a range of 934.10 points showing an intraday high of 73,915.45 (+161.43) and a low of 72,981.35 (-772.67) points.

The total volume of the KSE-100 index was 89.52 million shares.

Of the 100 index companies 34 closed up, 60 closed down, while 6 were unchanged.

KSE-100 index was let down by Oil & Gas Exploration Companies (148.36pts), Commercial Banks (141.61pts), Power Generation & Distribution (97.92pts), Fertilizer (97.83pts), and Cement (34.93pts).

On the flip-side, the index was supported by Leather & Tanneries (17.98pts), Automobile Assembler (9.44pts), Oil & Gas Marketing Companies (8.06pts), Insurance (7.68pts), and Automobile Parts & Accessories (4.31pts).

Companies that dragged the index lower were HUBC (77.72pts), FFC (55.9pts), OGDC (52.56pts), MEBL (47.6pts), and PPL (42.52pts).

On the other hand, companies that added points to the index were SRVI (17.98pts), SYS (12.57pts), PSO (10.35pts), NATF (9.48pts), and AICL (7.68pts).

In the broader market, the All-Share index closed at 47,153.84 with a net loss of 311.10 points.

Total market volume was 350.72 million shares compared to 352.74m from the previous session while traded value was recorded at Rs10.18 billion showing a decrease of Rs2.14bn.

There were 161,193 trades reported in 433 companies with 133 closing up, 240 closing down and 60 remaining unchanged.

To note, the KSE-100 has gained 31,800 points or 76.71% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 10,802 points, equivalent to 17.3%.

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