PSX Closing Bell: The Heat Is On

MG News | July 19, 2024 at 05:21 PM GMT+05:00

0:00

July 19, 2024 (MLN): Pakistan’s stock market plunged after hitting a record high in the previous session, with index-heavy sectors finishing in the red.

The KSE-100 Index fell 1,721.97 points or 2.1% to 80,119.09 on Friday, posting its biggest fall since February 12 when an unresolved election outcome spooked the market.

The index traded in a range of 2,127.14 points showing an intraday high of 81,939.83 (+99.97) and a low of 79,812.69 (-2,027.17) points.

The total volume of the KSE-100 Index was 246.33 million shares.

Of the 100 index companies 18 closed up, 81 closed down, while 1 were unchanged.

Top losers during the day were INIL (-8.89%), GADT (-8.08%), PAEL (-7.92%), TRG (-5.77%), and PTC (-5.62%).

On the other hand, top gainers were PGLC (+9.06%), EFUG (+5.30%), SNGP (+3.63%), JVDC (+2.72%), and THALL (+2.62%).

In terms of index-point contributions, companies that dragged the index lower were HUBC (-218.62pts), FFC (-183.82pts), HBL (-119.60pts), PPL (-104.04pts), and UBL (-90.98pts).

Meanwhile, companies that added points to the index were SNGP (+22.58pts), THALL (+13.86pts), MARI (+13.01pts), HINOON (+9.42pts), and EFUG (+8.66pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-446.62pts), Fertilizer (-289.81pts), Power Generation & Distribution (-275.22pts), Technology & Communication (-152.48pts), and Oil & Gas Exploration Companies (-145.71pts).

While the index was supported by Automobile Parts & Accessories (+13.86pts), Insurance (+9.31pts), Property (+4.35pts), Real Estate Investment Trust (+3.87pts), and Sugar & Allied Industries (+0.64pts).

In the broader market, the All-Share Index closed at 50,854.42 with a net loss of 918.86 points or 1.77%.

Total market volume was 479.00 million shares compared to 470.31m from the previous session while traded value was recorded at Rs27.85 billion showing an increase of Rs2.50bn.

There were 299,927 trades reported in 446 companies with 91 closing up, 305 closing down, and 50 remaining unchanged.

**Top Ten by Volume**
Symbol	Price	Change %	Volume
WAVESAPP	10.07	0.30%	36,876,803
FFBL	41.03	-2.36%	30,672,200
PAEL	26.38	-7.92%	24,821,611
WTL	1.18	-2.48%	20,066,568
AVN	65.43	-2.58%	18,981,342
SNGP	71.29	3.63%	17,001,597
KEL	4.53	-4.63%	16,764,175
HUBC	155.48	-4.37%	16,720,522
PIAHCLA	18.59	-3.43%	15,573,483
AIRLINK	104.43	-6.17%	13,799,108

To note, the KSE-100 has gained 1,673 points or 2.13% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 17,667 points, equivalent to 28.29%.

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