April 30, 2024 (MLN): The benchmark KSE-100 index ended Tuesday's trading session at 71,102.55 showing a decrease of 592.49 points or 0.83%.
The index traded in a range of 1,060.03 points showing an intraday high of 72,119.66 (+424.62) and a low of 71,059.63 (-635.41) points.
The total volume of the KSE-100 index was 232.91 million shares.
The market extended its downturn from yesterday, attributed to the central bank's decision to maintain its policy rate unchanged at a record 22% for the seventh consecutive meeting.
Moreover, corporate results continued to take center stage today, with lower than market expected earnings hurting investors' confidence.
Meanwhile, yesterday, the Executive Board of the International Monetary Fund (IMF) allowed an immediate disbursement of around $1.1 billion to Pakistan, bringing total disbursements under the arrangement to SDR 2.25bn or about $3bn.
The said amount will help bolster the foreign exchange reserves of Pakistan. At present, the total foreign exchange reserves stand at around $8bn.
In Tuesday's trading session, of the 100 index companies 27 closed up, 66 closed down, 5 were unchanged, while 2 remained untraded.
KSE-100 index was let down by Technology & Communication (152.58pts), Commercial Banks (109.44pts), Cement (85.34pts), Inv. Banks / Inv. Cos. / Securities Cos. (40.88pts), and Pharmaceuticals (31.29pts).
On the flip-side, the index was supported by Oil & Gas Exploration Companies (19.4pts), Automobile Assembler (5.9pts), Tobacco (5.88pts), Oil & Gas Marketing Companies (2.5pts), and Property (0.17pts).
Companies that dragged the index lower were SYS (82.85pts), UBL (80.87pts), TRG (58.36pts), DAWH (43.45pts), and EFERT (43.28pts).
On the other hand, companies that added points to the index were PPL (60.1pts), BAHL (34.51pts), FFC (20.25pts), MTL (10.24pts), and KAPCO (8.61pts).
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In the broader market, the All-Share index closed at 46,554.24 with a net loss of 356.31 points.
Total market volume was 560.55 million shares compared to 613.31m from the previous session while traded value was recorded at Rs25.73 billion showing a decrease of Rs0.59bn.
There were 267,250 trades reported in 383 companies with 112 closing up, 244 closing down and 27 remaining unchanged.
| Company | Volume |
|---|---|
| WTL | 47,688,025 |
| PACE | 27,121,500 |
| PPL | 23,164,949 |
| HASCOL | 22,723,258 |
| AIRLINK | 22,168,617 |
| FFBL | 20,141,196 |
| TELE | 17,205,569 |
| AGL | 15,980,739 |
| KEL | 14,015,700 |
| OGDC | 13,576,160 |
AIRLINK’s earnings spike to Rs1.04bn in Q12024
To note, the KSE-100 has gained 29,650 points or 71.53% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 8,652 points, equivalent to 13.85%.
Copyright Mettis Link News
Posted on: 2024-04-30T16:22:05+05:00
