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PSX Closing Bell: Sea of Sorrow

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May 09, 2022 (MLN): Mirroring the global stampede in equities due to concern over inflation, possible recession and tightening lockdown in Shanghai, the Pakistan Stock Exchange (PSX) tumbled on Monday.

The investors’ confidence was knocked by the higher commodity prices and uncertainty regarding the 7th review of the IMF program, a market closing note by Ismail Iqbal Securities cited.

On the economic front, the country's trade deficit ballooned by 64.79% to stand at $39.36 billion during the first ten months of the current fiscal year, mainly due to an exponential growth in imports and comparatively slow growth in exports. While FX reserves continued to decline, clocking in at $16.55bn after a $115mn WoW decline.

In addition, PKR’s downward journey in the interbank market has also dented investors’ sentiment.

Accordingly, the benchmark KSE-100 index concluded today’s trading session at 43,393 level, down by 1,447.67 or 3.23%, the highest DoD points decline after December 02, 2021.

The Index traded in a range of 1606.09 points or 3.58 percent of the previous close, showing an intraday high of 44,841.41 and a low of 43,235.32.

Of the 96 traded companies in the KSE100 Index 6 closed up 89 closed down, while 1 remained unchanged. The total volume traded for the index was 170.74 million shares.

Sector wise, the index was let down by Commercial Banks with 305 points, Cement with 237 points, Technology & Communication with 183 points, Oil & Gas Exploration Companies with 130 points and Fertilizer with 104 points.

The most points taken off the index was by LUCK which stripped the index of 118 points followed by SYS with 110 points, HBL with 76 points, MEBL with 66 points and TRG with 58 points.

Sectors propping up the index were Sugar & Allied Industries with 4 points.

The most points added to the index was by MUREB which contributed 6 points followed by LOTCHEM with 5 points, SML with 4 points, SCBPL with 2 points and BAFL with 2 points.

All Share Volume increased by 115.72 Million to 305.21 Million Shares. Market Cap decreased by Rs.228.57 Billion.

Total companies traded were 363 compared to 333 from the previous session. Of the scrips traded 38 closed up, 311 closed down while 14 remained unchanged.

Total trades increased by 45,423 to 122,169.

Value Traded increased by 3.58 Billion to Rs.9.24 Billion

Company Volume

Top Ten by Volume

Lotte Chemical Pakistan 27,005,500
Cnergyico PK 23,858,892
Worldcall Telecom 20,975,000
Telecard 11,495,500
Ghani Global Holdings 10,608,500
Unity Foods 9,347,397
Hum Network 9,200,000
Maple Leaf Cement Factory 8,166,126
Fauji Cement Company 7,941,000
TRG Pakistan 7,848,876

 

Sector Volume

Top Sector by Volume

Technology & Communication 58,388,160
Chemical 50,156,273
Commercial Banks 35,143,090
Refinery 34,415,615
Cement 27,808,680
Food & Personal Care Products 16,938,625
Power Generation & Distribution 10,949,223
Cable & Electrical Goods 9,642,700
Engineering 8,236,917
Textile Composite 6,942,855

 

 

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Posted on: 2022-05-09T17:20:08+05:00

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