PSX Closing Bell: The Heat Got To Them

July 22, 2024 (MLN): Pakistan stocks started the week on a bearish note, with index-heavy sectors finishing in the red.

The benchmark KSE-100 Index concluded Monday's trading session at 78,539.18, showing a decrease of 1,578.71 points or 1.97%.

The index remained negative throughout the day showing an intraday high of 80,085.63 (-32.26) and a low of 78,404.76 (-1,713.13) points.

The total volume of the KSE-100 Index was 201.00 million shares.

Of the 100 index companies 13 closed up, while 87 closed down.

Top losers during the day were NCPL (-6.31%), INIL (-5.87%), ABOT (-5.51%), PSEL (-5.43%), and FABL (-5.01%).

On the other hand, top gainers were SNGP (+4.07%), POML (+3.62%), GADT (+1.77%), SHFA (+1.30%), and AVN (+1.19%).

In terms of index-point contributions, companies that dragged the index lower were HUBC (-155.81pts), ENGRO (-96.56pts), FFC (-91.91pts), OGDC (-87.19pts), and PPL (-62.17pts).

Meanwhile, companies that added points to the index were SNGP (+26.20pts), HBL (+13.56pts), AVN (+3.07pts), PAEL (+2.84pts), and ILP (+2.40pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-343.59pts), Oil & Gas Exploration Companies (-223.55pts), Fertilizer (-219.09pts), Power Generation & Distribution (-198.76pts), and Cement (-124.62pts).

While the index was supported by Cable & Electrical Goods (+2.84pts), Tobacco (+2.09pts), Real Estate Investment Trust (+1.23pts), Textile Spinning (+0.78pts), and Vanaspati & Allied Industries (+0.39pts).

In the broader market, the All-Share Index closed at 49,867.34 with a net loss of 987.08 points or 1.94%.

Total market volume was 375.60 million shares compared to 479.00m from the previous session while traded value was recorded at Rs19.35 billion showing a decrease of Rs8.50bn.

There were 235,758 trades reported in 445 companies with 80 closing up, 318 closing down, and 47 remaining unchanged.

Top Ten by Volume

To note, the KSE-100 has gained 94 points or 0.12% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,088 points, equivalent to 25.76%.

Copyright Mettis Link News