PSX Closing Bell: The Losing End

March 08, 2022 (MLN): Continuing its bearish spell, the capital market on Tuesday opened on a negative note and remained range-bound in the initial hours owing to the mixed sentiments across the board.

However, the trading floor, in the later hours witnessed huge selling pressure which made the benchmark KSE-100 index lost 388.62 points to close the session at 42,878.35.

The Russia and Ukraine military conflict rages on amidst talks of a ban on Russian oil and gas sales by the US. Likewise, International commodity prices are on an upward trajectory.

On the local front political opposition has finally submitted an application to call the National Assembly session asap for tabling a no-confidence motion against the Prime Minister, a market closing note by Pearl Securities noted.

The Index traded in a range of 645.31 points or 1.49 percent of the previous close, showing an intraday high of 43,427.83 and a low of 42,782.52.

Of the 91 traded companies in the KSE100 Index 20 closed up 68 closed down, while 3 remained unchanged. The total volume traded for the index was 93.00 million shares.

Sector-wise, the index was let down by Commercial Banks with 86 points, Cement with 68 points, Oil & Gas Exploration Companies with 62 points, Power Generation & Distribution with 37 points and Oil & Gas Marketing Companies with 34 points.

The most points taken off the index was by LUCK which stripped the index of 37 points followed by PPL with 37 points, HUBC with 30 points, NBP with 29 points and OGDC with 24 points.

Sectors propping up the index were Chemical with 17 points, Technology & Communication with 17 points, Automobile Parts & Accessories with 8 points, Leather & Tanneries with 7 points and Tobacco with 5 points.

The most points added to the index was by TRG which contributed 25 points followed by BAFL with 14 points, EPCL with 13 points, THALL with 7 points and SRVI with 7 points.

All Share Volume decreased by 10.77 million to 226.11 million shares. Market Cap decreased by Rs61.52 billion.

Total companies traded were 343 compared to 358 from the previous session. Of the scrips traded 102 closed up, 223 closed down while 18 remained unchanged.

Total trades increased by 130 to 114,116.

Value Traded decreased by 1.09 billion to Rs7.12 billion

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