PSX closes marginally lower in range bound session

WEB DESK: The Pakistan Stock Exchange (PSX) experienced a subdued trading session on Tuesday, with the benchmark KSE-100 index concluding at 63,219.1, reflecting a marginal decline of 86.83 points, or 0.14 per cent.

The market displayed limited movement, fluctuating within a range of approximately 300 points throughout the day.

The total trading volume for the KSE-100 index stood at 231.041 million shares. The index showcased a trading range of 566.36 points, reaching an intraday high of 63,622.00 (+316.07) and a low of 63,055.64 (-250.29) points.

PSX closing February 27, 2024

Among the 100 index companies, 37 concluded the day with gains, 60 faced losses, and 3 remained untraded.

The major contributors to the index’s decline were the oil and gas exploration companies, leather and tanneries, oil and gas marketing companies, pharmaceuticals, and chemical sectors.

Conversely, the index found support from the Technology & Communication, Fertiliser, Cement, Commercial Banks, and Power Generation & Distribution sectors.

Specifically, Oil & Gas Development Company (OGDC), SRVI, United Bank Limited (UBL), Pakistan Petroleum Limited (PPL), and Pakistan State Oil (PSO) were the primary detractors, while TRG, MARI, Kot Addu Power Company (KAPCO), Bank Alfalah (BAFL), and Bank Al Habib Limited (BAHL) contributed positively to the index.

In the broader market, the All-Share index concluded at 42,193.07, recording a net loss of 167.95 points.

The total market volume decreased to 409.963 million shares, with a traded value of Rs14.68 billion, indicating a decrease of Rs1.80 billion compared to the previous session.

A total of 176,124 trades were reported in 355 companies, with 111 closing up, 223 closing down, and 21 remaining unchanged.

It’s worth noting that the KSE-100 has seen a significant gain of 21,766 points, or 52.51 per cent, during the fiscal year, while the ongoing calendar year has witnessed a cumulative increase of 768 points, equivalent to 1.23 per cent.

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