PSX recovers from early losses, closes up by 106.86 points

KARACHI: The Pakistan Stock Exchange (PSX) experienced an initial boost on Tuesday, mirroring the recovery observed in global markets following a significant drop the previous day. However, the gains were short-lived, and the market gave up much of its early advance.

The benchmark KSE-100 Index ended the day at 77,191.34 points, marking a slight increase of 106.86 points or 0.14 per cent. This followed a sharp decline of nearly 1.5 per cent on Monday.

During the session, the index fluctuated within a range of 710.60 points, reaching a peak of 77,746.55 (+662.07) and dipping to a low of 77,035.95 (-48.53).

The total trading volume for the KSE-100 Index was 149.77 million shares.

In the local market, out of the 100 index companies, 45 saw an increase, 48 experienced a decline, 6 remained unchanged, and 1 was untraded. Leading the gainers were NPL (+2.98 per cent), HMB (+2.92 per cent), PAKT (+2.81 per cent), SPWL (+2.81 per cent), and NESTLE (+2.17 per cent).

Conversely, the largest decliners included KOHC (-3.92 per cent), PKGP (-3.52 per cent), HGFA (-3.50 per cent), PIOC (-2.95 per cent), and UNITY (-2.78 per cent).

Key contributors to the index’s gains included HUBC (+40.96 points), MEBL (+37.85 points), SYS (+36.41 points), HMB (+29.26 points), and ENGRO (+29.14 points). On the other hand, LUCK (-39.71 points), PSO (-24.97 points), BAHL (-20.44 points), KOHC (-17.17 points), and PKGP (-15.36 points) were the primary detractors.

Sector-wise, the KSE-100 Index saw support from Commercial Banks (+64.56 points), Fertilizer (+48.17 points), Technology & Communication (+44.13 points), Power Generation & Distribution (+32.43 points), and Oil & Gas Exploration Companies (+29.78 points).

Conversely, the index was weighed down by Cement (-96.29 points), Oil & Gas Marketing Companies (-26.81 points), Refinery (-13.35 points), Leather & Tanneries (-12.30 points), and Automobile Parts & Accessories (-4.64 points).

In the broader market, the All-Share Index closed at 49,281.12 points, reflecting a modest gain of 76.42 points or 0.16 per cent. Total market volume was 600.90 million shares, up from 501.19 million in the previous session, while the traded value stood at Rs17.13 billion, a decrease of Rs3.93 billion.

The market saw 230,545 trades across 443 companies, with 206 advancing, 176 declining, and 61 remaining unchanged.