PSX Closing Bell: The Auld Triangle

January 30, 2024 (MLN): The Pakistan Stock Exchange (PSX) experienced a challenging session, with the benchmark KSE-100 index concluding the trading day at 61,841.74, reflecting a drop of 931.98 points or 1.48%.

In a recent development, the central bank has decided to keep the policy rate unchanged at 22% for the fifth consecutive meeting.

The index traded in a range of 1,436.88 points showing an intraday high of 63,074.51 (+300.79) and a low of 61,637.62 (-1,136.10) points.

The total volume of the KSE-100 index was 233.753 million shares.

Of the 100 index companies 16 closed up, 75 closed down, 5 were unchanged, while 4 remained untraded.

KSE-100 index was let down by Commercial Banks with 155.2, Fertilizer with 137.57, Oil & Gas Exploration Companies with 118.18, Chemical with 93.62, and Oil & Gas Marketing Companies with 80.71 points.

On the flip-side, the index was supported by Insurance with 2.15, Close-End Mutual Fund with 1.61, Miscellaneous with 1.38, Automobile Parts & Accessories with 0.32, and Paper & Board with 0.16 points.

Companies that dragged the index lower were COLG with 80.57, MEBL with 78.75, ENGRO with 75.47, OGDC with 65.25 and MARI with 49.5 points.

On the other hand, companies that added points to the index were MCB with 32, HUBC with 16.55, RMPL with 9.41, BAFL with 7.33, and PPL with 4.26 points.

In the broader market, the All-Share index closed at 41,909.12 with a net loss of 768.33 points.

Total market volume was 436.120 million shares compared to 317.577 from the previous session while traded value was recorded at Rs15.29 billion showing an increase of Rs4.58bn.

There were 178,185 trades reported in 346 companies with 76 closing up, 249 closing down and 21 remaining unchanged.

To note, the KSE-100 has gained 20,389 points or 49.19% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of 609 points, equivalent to 0.98%.

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