PSX closes in red, shedding 578 points

PSX closing red after record high

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index concluded Monday’s trading session with a notable decline, closing at 78,232.10 points, down by 578.40 points or 0.73 per cent.

The index exhibited considerable volatility throughout the day, trading within a range of 1,220.69 points. It reached an intraday high of 79,388.12 points, marking an increase of 577.63 points, and a low of 78,167.43 points, reflecting a decrease of 643.06 points.

Pakistan Stock Exchange closing today
PSX closing (June 24, 2024)

The total trading volume of the KSE-100 index stood at 148.58 million shares. Out of the 100 indexed companies, 21 closed with gains, 75 ended in the red, and 4 remained unchanged.

Key sectors that contributed to the downturn included Commercial Banks (-351.91 points), Oil & Gas Exploration Companies (-96.24 points), Cement (-79.31 points), Automobile Assemblers (-61.85 points), and Technology & Communication (-37.64 points).

Conversely, the index found some support from Power Generation & Distribution (+183.46 points), Investment Banks / Investment Companies / Securities Companies (+13.26 points), Glass & Ceramics (+5.41 points), Synthetic & Rayon (+1.13 points), and Food & Personal Care Products (+0.41 points).

Prominent companies that pulled the index down included UBL (-106.29 points), MEBL (-103.62 points), BAHL (-92.86 points), MTL (-59.12 points), and LUCK (-47.76 points). On the other hand, firms that added to the index included HUBC (+212.1 points), HBL (+22.04 points), MCB (+15.71 points), NESTLE (+8.1 points), and TGL (+7.32 points).

In the broader market, the All-Share index closed at 49,395.96 points, reflecting a net loss of 421.99 points. The total market volume was recorded at 385.18 million shares, down from 471.34 million shares in the previous session. The traded value was Rs15.45 billion, showing a decrease of Rs5.03 billion.

A total of 187,897 trades were reported across 432 companies, with 122 closing higher, 254 lower, and 56 remaining unchanged.

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