PSX Closing Bell: Trainwreck in slow motion

July 21, 2022 (MLN): The benchmark KSE-100 index hit a 21-month low at 39,831  points level, down by 628 points or 1.55% DoD as the dollar touched a new high of Rs227 at the interbank.

The last time the index fell below 40,000 level was on Nov 24, 2020.

The market opened on a positive note, however, concerns over inflation and current economic situation along with PKR depreciation fueled selling pressure.

So far, in four sessions, index has lost around 2,031 points, mainly due to continuous Pak rupee devaluation against US dollar and political unrest.

The Index traded in a range of 779.96 points or 1.93% of previous close, showing an intraday high of 40,577.21 and a low of 39,797.25.

Of the 95 traded companies in the KSE100 Index 4 closed up 87 closed down, while 4 remained unchanged. Total volume traded for the index was 73.10 million shares.

Sector wise, the index was let down by Fertilizer with 100 points, Commercial Banks with 91 points, Oil & Gas Exploration Companies with 79 points, Cement with 61 points and Chemical with 45 points.

The most points taken off the index was by EFERT which stripped the index of 47 points followed by POL with 36 points, EPCL with 35 points, HBL with 33 points and SYS with 27 points.

Sectors propping up the index were Insurance with 2 points.

The most points added to the index was by TRG which contributed 10 points followed by AICL with 2 points and BAFL with 1 point.

All Share Volume increased by 16.25mn to 157.99mn Shares. Market Cap decreased by Rs109.30bn.

Total companies traded were 333 compared to 325 from the previous session. Of the scrips traded 40 closed up, 269 closed down while 24 remained unchanged.

Total trades increased by 12,779 to 96,858.

Value Traded decreased by 0.22bn to Rs.4.28bn

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