Pakistan Stock Exchange’s winning streak ends as KSE-100 declines

WEB DESK: In the latest trading session, the benchmark KSE-100 Index of the Pakistan Stock Exchange experienced a decline, concluding at 57,063.16.

This marked the conclusion of a 6-day winning streak, with a decrease of 333.87 points, or 0.58 per cent.

Analysts attribute this shift in market sentiment to the notable increase in inflation figures, which surged by almost 10 per cent on a weekly basis, primarily driven by a substantial 480 per cent hike in gas prices.

Throughout the trading day, the KSE-100 Index displayed fluctuations within a range of 773.9 points, reaching an intraday high of 57,750.93 (+353.9) and a low of 56,977.02 (-420) points.

The total trading volume for the KSE-100 Index reached 363.423 million shares.

On a weekly basis, the KSE-100 Index demonstrated an increase of 1,671.79 points, or 3.02 per cent.

Within today’s session, among the 100 index companies, 33 closed higher, 45 closed lower, 1 remained unchanged, and 21 were untraded.

Examining the sectors influencing the KSE-100 index performance, power generation & distribution, fertiliser, cement, oil & gas exploration companies, and inv. banks, inv. cos., and securities cos. were the main contributors to the decline.

Read more: Weekly inflation surges by nearly 10%

Specific companies that significantly impacted the index negatively include HUBC, EFERT, LUCK, OGDC, and DAWH.

Conversely, oil & gas marketing companies, pharmaceuticals, miscellaneous, glass & ceramics, and technology & communication played a supportive role, contributing positively to the index.

Noteworthy figures in the broader market include the All-Share index closing at 38,318.55 with a net loss of 64.29 points.

The total market volume reached 901.597 million shares, a slight decrease from the previous session, and the traded value was recorded at Rs23.43 billion, reflecting a decrease of Rs5.43 billion.

A total of 258,203 trades were reported in 377 companies, with 189 closing up, 170 closing down, and 18 remaining unchanged.

It is pertinent to mention that during the fiscal year, the KSE-100 has gained 15,610 points, or 37.66 per cent, while the ongoing calendar year has witnessed a cumulative increase of 16,643 points, equivalent to 41.17 per cent in the KSE-100.