Pakistan’s stock market closes with loss of over 200 points

KARACHI: The Pakistan stock market’s KSE 100 index saw an intense fluctuation on Monday, with a range of 1,435 points, or from 66,564.04 (+340.41) to 65,129.00 (-1,094.63) points.

Pakistan Stock Exchange market summary – PSX winning streak ends

The market found itself without a clear direction, entangled in a struggle between bulls and bears, as participants awaited the MPC decision scheduled for tomorrow, anticipating its impact on the market’s next move.

Despite starting the week on a slightly bullish note and achieving the day’s high within the first 30 minutes of trading, bears swiftly pulled it down to a low of 65,129.

Monday’s session concluded at 66,012.33, reflecting a decrease of 211.31 points, or 0.32 per cent.

The KSE-100 index recorded a total trading volume of 613.393 million shares. Among the 100 index companies, 32 closed higher, 59 lower, and 9 remained untraded.

Commercial banks (-254.08), power generation and distribution (-100.29), oil and gas marketing companies (-69.72), cement (-63.99), and refineries (-44.98) weighed down the KSE-100 index.

Conversely, Fertiliser (220.2), Technology & Communication (77.15), Oil & Gas Exploration Companies (69.3), Leather & Tanneries (17.79), and Inv. Banks/Inv. Cos./Securities Cos. (11.34) points provided support.

Companies such as HUBC (-113.01), HBL (-88.98), MEBL (-72.12), PSO (-67.22), and UBL (-54.51) contributed to dragging the index lower.

On the positive side, FFC (90.83), MARI (82.06), EFERT (71.62), TRG (57.55), and ENGRO (47.77) points were added to the index.

In the broader market, the All-Share index closed at 43,716.49, experiencing a net loss of 165.04 points.

The total market volume was 1,215.932 million shares, a slight decrease from the previous session, while the traded value amounted to Rs33.42 billion, showing a marginal increase of Rs0.05bn.

With 325,295 trades reported in 386 companies, 159 closed higher, 224 lower, and 3 remained unchanged.

It is worth noting that the KSE-100 has seen a significant gain of 24,560 points, or 59.25 per cent, during the fiscal year.

Additionally, the ongoing calendar year has witnessed a cumulative increase of 25,592 points, equivalent to 63.31 per cent in the KSE-100.

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