June 21, 2023 (MLN): KSE100 Index closed Wednesday's trading session at 40,220.79 showing a decrease of 432.24 points.

The index traded in a range of 613.63 points showing an intraday high of 40,804.87 and a low of 40,191.24.

Despite Finance Minister Ishaq Dar assuring time and time again of smooth progress regarding the debt obligations of the country, investors remain unconvinced as the KSE 100 index continues its downward spiral.

Pakistan is managing to meet its external debt repayments, thanks to Chinese assistance, while grappling with an ongoing deadlock with the IMF.

Furthermore, Ishaq Dar has provided reassurances multiple times that the 9th review of the IMF program will be concluded this month, emphasizing that there are no concerns regarding payments until June 30. He stated confidently, "We are fully prepared to ensure timely payments until June 30."

Total Volume of the KSE100 Index was 47.517 million shares.

Of the companies in KSE100 12 closed up, 79 closed down, 1 were unchanged while 8 remained untraded.

KSE100 Index was let down by Chemical with 65.74, Oil & Gas Exploration Companies with 51.35 and Technology & Communication with 50.8 points.

Commercial Banks with 50.17, Fertilizer with 45.87,

Companies dragging the index lower were COLG with 57.61, HUBC with 26.2, SYS with 25.14, ENGRO with 21.34 and TRG with 21.31 points.

KSE100 index was supported by Inv. Banks / Inv. Cos. / Securities Cos. with 7.3, Modarabas with 1.0 and Automobile Assembler with 0.24 points.

Companies adding points to the index were DAWH with 7.84, MTL with 3.36, KOHC with 1.69, LCI with 1.43 and SCBPL with 1.36 points.

In the broader market, the All-Share index closed at 27,283.85 with a net loss of 354.34 points.

Total market volume was 97.02 million shares with traded value being recorded at 3.52 billion.

There was 64,309 trades reported in 320 companies with 69 closing up, 227 closing down and 24 remaining unchanged.

Copyright Mettis Link News

Posted on: 2023-06-21T16:27:20+05:00