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Still In the Same Boat: KSE-100 index plunges by 262.35 points

KSE-100 index rebounds on expectation of IMF good news
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February 03, 2023 (MLN): The benchmark KSE-100 Index closed the week in the red zone, as the market lost 262.35 points (0.64% DoD) to settle at the 40,471.16 level.

On weekly basis, the index witnessed a slight downslide of 21.16 points, as compared to the previous week.

Mr. Fahad Rauf, Head of Research Department at Ismail Iqbal Securities said, “The negative session is observed on the back of PKR devaluation and awaited the outcome of IMF talks.”

He further added that IMF talks would dictate next week's market direction. The pressure would continue unless the IMF agreement is signed.

During the day, the index made an intraday low of 40,329.75 and an intraday high of 40,872 during the day.

By the session’s end, the total volumes decreased by 9.17% DoD to clock in at 60.69 million shares as compared to the previous session.

According to the data, 91 companies were traded in the KSE100 Index 26 closed up 59 closed down, and 6 remained unchanged. The total volume traded for the index was 60.69 million shares.

Sector-wise, the index was let down by Miscellaneous with 78 points, Fertilizer with 54 points, Commercial Banks with 43 points, Technology & Communication with 36 points, and Cement with 21 points.

The most points taken off the index was by PSEL which stripped the index of 75 points followed by ENGRO with 47 points, SYS with 34 points, OGDC with 18 points, and PPL with 14 points.

Sectors propping up the index were Power Generation & Distribution with 42 points, Textile Composite with 12 points, Chemical with 6 points, and Insurance with 1 point.

The most points added to the index were by HUBC which contributed 38 points followed by POL with 9 points, GATM with 6 points, HBL with 6 points, and LOTCHEM with 4 points.

All Share Volume decreased by 19.03 million to 105.05 million Shares. Market Cap decreased by Rs.37.33 billion.

The total companies traded were 320 compared to 328 from the previous session. Of the scrips traded 116 closed up, 182 closed down and 22 remained unchanged.

Total trades decreased by 6,757 to 74,121.

Value Traded decreased by 1.94 billion to Rs.4.18 billion.

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Posted on: 2023-02-03T19:30:32+05:00