PSX Closing Bell: Theatre of Pain

June 02, 2022 (MLN): The local bourse extended its losing momentum on Thursday as the benchmark KSE-100 index endured notable selling pressure as the benchmark KSE100 index lost 518.13 points to close the session at 42,237.91.

Though the domestic currency is on the road to recovery while maintaining its gaining streak against the US dollar, investors reacted to the hike in cutoff yields in the T-bill auction.

In the auction conducted by the State Bank of Pakistan (SBP) on Wednesday, the yields were increased by up to 75 basis points, ranging from 15.25%-15.50% in different tenures, the highest since 1998.

During the session, the index traded in a range of 690.12 points or 1.61 percent of the previous close, witnessing an intraday low of 42,132.95.

Of the 92 traded companies in the KSE100 Index 14 closed up 75 closed down, while 3 remained unchanged. The total volume traded for the index was 70.10 million shares.

Sector-wise, the index was let down by Commercial Banks with 106 points, Fertilizer with 67 points, Cement with 62 points, Technology & Communication with 49 points, and Chemical with 46 points.

The most points taken off the index was by HBL which stripped the index of 44 points followed by LUCK with 35 points, OGDC with 28 points, UBL with 26 points, and THALL with 25 points.

Sectors propping up the index were Vanaspati & Allied Industries with 1 point.

The most points added to the index were by MARI which contributed 13 points followed by SCBPL with 6 points, NBP with 3 points, ABOT with 2 points, and ATRL with 2 points.

All Share Volume decreased by 37.39 Million to 157.00 Million Shares. Market Cap decreased by Rs.70.43 Billion.

Total companies traded were 345 compared to 334 from the previous session. Of the scrips traded 75 closed up, 254 closed down while 16 remained unchanged.

Total trades decreased by 180 to 81,287.

Value Traded decreased by 0.06 Billion to Rs.5.29 Billion

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