PSX Closing Bell: Run to the Hills

May 16, 2022 (MLN): Pakistan’s stock market has tumbled to its lowest level of 42,667 points since December 2020 as the government decided not to increase fuel prices.

Moreover, uncertainty on the economic and political front as the country is going through the extremely worst economic crisis and cherry on the top, the melting reserves with no clue of IMF tranche and funding from friendly countries have created a strong spell of uncertainty which kept investors cautious, leading the benchmark KSE-100 index to close at 42,667 level, after shedding 819 points or 1.9% DoD.

The panic amongst investors was further intensified by the constant depreciation of PKR against USD, as the local currency settled today’s trade at 194.18, compared to the previous close of 192.53 per USD.

The Index remained negative throughout the session touching an intraday low of 42,373.14

Of the 93 traded companies in the KSE100 Index 9 closed up 81 closed down, while 3 remained unchanged. Total volume traded for the index was 135.50 million shares.

Sector wise, the index was let down by Commercial Banks with 172 points, Cement with 125 points, Oil & Gas Exploration Companies with 110 points, Technology & Communication with 108 points and Fertilizer with 68 points.

The most points taken off the index was by SYS which stripped the index of 72 points followed by LUCK with 60 points, MEBL with 48 points, PPL with 38 points and OGDC with 36 points.

Sectors propping up the index were Chemical with 59 points, Paper & Board with 5 points and Vanaspati & Allied Industries with 1 points.

The most points added to the index was by EPCL which contributed 48 points followed by LOTCHEM with 11 points, PKGS with 6 points, COLG with 2 points and PSMC with 1 point.

All Share Volume increased by 42.33 Million to 250.45 Million Shares. Market Cap decreased by Rs.123.18 Billion.

Total companies traded were 340 compared to 343 from the previous session. Of the scrips traded 63 closed up, 263 closed down while 14 remained unchanged.

Total trades increased by 23,344 to 119,299.

Value Traded increased by 1.94 Billion to Rs.8.91 Billion


Top Ten by Volume

Lotte Chemical Pakistan18,143,611
Pakistan Refinery18,068,223
Cnergyico PK14,168,680
Worldcall Telecom11,934,500
Habib Bank10,735,709
Ghani Global Holdings9,711,733
TRG Pakistan8,440,733
Engro Polymer & Chemicals8,326,814
Engro Fertilizers8,319,330



Top Sector by Volume

Technology & Communication46,527,507
Commercial Banks19,145,093
Food & Personal Care Products12,118,664
Power Generation & Distribution9,131,565
Cable & Electrical Goods8,347,100



Copyright Mettis Link News


Posted on: 2022-05-16T17:24:24+05:00