KSE-100 closes down 0.34% amid selling pressure

KARACHI: In a shift from recent positive trends, the Pakistan Stock Exchange (PSX) faced selling pressure, causing the benchmark KSE-100 Index to conclude the trading day with a slight dip of 0.34 per cent on Tuesday.

The benchmark KSE-100 index wrapped up Tuesday’s session at 65,726.04, registering a decrease of 225.68 points, or 0.34 per cent.

PSX closing March 5, 2024

Throughout the day, the index exhibited a trading range of 634.78 points, reaching an intraday high of 66,134.85 (+183.12) and a low of 65,500.07 (-451.66) points.

The total volume of the KSE-100 index reached 185.731 million shares. Among the 100 index companies, 37 experienced gains, 61 saw declines, 1 remained unchanged, and 1 stayed untraded.

Key contributors to the downturn in the KSE-100 index were oil and gas exploration companies with 199.64, oil and gas marketing companies with 47.25, power generation and distribution with 23.17, food and personal care products with 23.06, and pharmaceuticals with 18.88 points.

Conversely, support came from Inv. Banks/IInv. Cos./Securities Cos. with 66.88, Refinery with 46.83, Technology & Communication with 25.11, Commercial Banks with 11.95, and Cement with 11.23 points.

Leading the companies that pulled the index down were OGDC with 82.86, PPL with 64.91, MARI with 37.02, PSO with 23.9, and MTL with 18.7 points.

On the positive side, companies like DAWH with 53.91, ATRL with 21.83, TRG with 20.71, UBL with 20.41, and PIOC with 16.54 points contributed to the index’s gains.

In the broader market, the All-Share index concluded at 43,423.67, experiencing a net loss of 265.39 points. The total market volume reached 396.598 million shares, an increase from the previous session, with a traded value of Rs16.59 billion, showing a rise of Rs3.20 billion.

Notably, there were 195,511 trades reported in 350 companies, with 134 closing up, 202 closing down, and 14 remaining unchanged.

It is worth mentioning that the KSE-100 has observed a remarkable gain of 24,273 points, or 58.56 per cent, during the fiscal year.

Additionally, the ongoing calendar year has witnessed a cumulative increase of 3,275 points, equivalent to 5.24 per cent.

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