PSX Closing Bell: Theatre of the Absurd

News Image

By MG News | June 22, 2022 at 05:04 PM GMT+05:00

0:00

June 22, 2022 (MLN): In the backdrop of crucial development on the IMF front on Tuesday night, the Pakistan Stock Exchange (PSX) opened on a positive note as strong buying activity was being observed across the bourse. As a result, the KSE-100 index made an intraday high of 42,880.4354, while adding 354 points.

However, in the later hours, the trading floor succumbed to selling pressure which led the index to lose 67.81 points to close at 42,458.14.

Speaking to Mettis Global, Ahsan Mehanti, Director Arif Habib Group said, “PSX closed lower on govt commitment to raise over Rs422bn in tax targets and poverty taxes on firms which likely to impact corporate profits.”

Meanwhile, the slump in global crude oil prices and weak global equity played a catalyst role in the negative close, he added.

Shayan Jan, Equity Trader at Intermarket Securities told Mettis, “Confidence of investors has not fully restored yet owing to the dismal macros of the country.”

The IMF impact is temporary as other macroeconomic indicators need to be addressed, he said.

Of the 95 traded companies in the KSE100 Index 33 closed up 60 closed down, while 2 remained unchanged. The total volume traded for the index was 113.65 million shares.

Sector-wise, the index was let down by Cement with 40 points, Technology & Communication with 28 points, Oil & Gas Exploration Companies with 21 points, Oil & Gas Marketing Companies with 19 points, and Pharmaceuticals with 12 points.

The most points taken off the index were by COLG which stripped the index of 20 points followed by POL with 18 points, MEBL with 17 points, LUCK with 14 points, and TRG with 14 points.

Sectors propping up the index were Fertilizer with 49 points, Tobacco with 18 points, Commercial Banks with 17 points, Power Generation & Distribution with 5 points, and Insurance with 4 points.

The most points added to the index were by FFC which contributed 52 points followed by MCB with 27 points, BAHL with 27 points, PAKT with 18 points, and LOTCHEM with 10 points.

All Share Volume decreased by 34.50 million to 266.09 million shares. Market Cap decreased by Rs8.87 billion.

Total companies traded were 336 compared to 341 from the previous session. Of the scrips traded 133 closed up, 176 closed down while 27 remained unchanged.

Total trades decreased by 956 to 125,336.

Value Traded decreased by 1.00 billion to Rs8.47 billion

Company Volume

Top Ten by Volume

Pakistan Refinery 23,874,098
TPL Properties 23,154,358
Cnergyico PK 16,793,997
Ghani Global Holdings 11,788,125
Unity Foods 11,479,283
Telecard 11,230,000
Oilboy Energy(R) 7,599,500
Lotte Chemical Pakistan 6,772,033
TPL Corp 6,772,000
Hum Network 6,357,500

 

Sector Volume

Top Sector by Volume

Technology & Communication 44,359,058
Refinery 44,078,476
Chemical 27,748,681
Miscellaneous 24,244,258
Food & Personal Care Products 21,214,789
Commercial Banks 18,595,867
Oil & Gas Marketing Companies 17,351,768
Cement 11,827,163
Cable & Electrical Goods 11,222,850
Power Generation & Distribution 8,498,152

 

 

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,370.00 110,105.00
109,205.00
-915.00
-0.83%
BRENT CRUDE 68.53 69.00
68.41
-0.58
-0.84%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.90 67.50
66.78
-0.55
-0.82%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 02, 2025 at 11:05 PM GMT+05:00

Cement sales flat in FY25


July 02, 2025 at 10:50 PM GMT+05:00

SBP reserves cross $14bn mark in FY25


July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg