PSX Closing Bell: The Story Takes a Twist

October 30, 2024 (MLN): Pakistan stocks fell after riding high for seven consecutive sessions and setting records, as selling pressure entered the market.

The benchmark KSE-100 Index concluded Wednesday's trading session at 90,286.56, showing a decrease of 577.53 points or 0.64%.

The index traded in a range of 1,869.32 points showing an intraday high of 91,872.63 (+1,008.54) and a low of 90,003.31 (-860.78) points.

The total volume of the KSE-100 Index was 240.63 million shares.

Of the 100 index companies 36 closed up, 61 closed down, while 3 were unchanged.

Top losers during the day were NBP (-6.75%), KOSM (-6.17%), MUGHAL (-5.80%), SEARL (-5.67%), and AKBL (-4.42%).

On the other hand, top gainers were BNWM (+10.01%), NCPL (+10.00%), PGLC (+9.97%), EFUG (+9.94%), and MEHT (+9.50%).

In terms of index-point contributions, companies that dragged the index lower were FFC (-116.79pts), NBP (-77.10pts), HUBC (-57.27pts), UBL (-56.39pts), and HBL (-52.95pts).

Meanwhile, companies that added points to the index were SYS (+112.04pts), PPL (+80.61pts), MEHT (+34.55pts), GLAXO (+25.34pts), and EFERT (+23.71pts).

Sector-wise, KSE-100 Index was let down by Commercial Banks (-215.39pts), Fertilizer (-137.28pts), Cement (-129.34pts), Oil & Gas Marketing Companies (-82.29pts), and Food & Personal Care Products (-32.65pts).

While the index was supported by Technology & Communication (+92.49pts), Oil & Gas Exploration Companies (+22.32pts), Automobile Assembler (+11.33pts), Insurance (+10.34pts), and Pharmaceuticals (+8.06pts).

In the broader market, the All-Share Index closed at 57,642.35 with a net loss of 282.08 points or 0.49%.

Total market volume was 614.56 million shares compared to 602.81m from the previous session while traded value was recorded at Rs27.34 billion showing a decrease of Rs0.86bn.

There were 305,380 trades reported in 444 companies with 158 closing up, 233 closing down, and 53 remaining unchanged.

To note, the KSE-100 has gained 11,842 points or 15.10% during the fiscal year, whereas it has increased 27,836 points or 44.57% so far this calendar year.

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