Pakistan Stock Exchange rebounds after early dip, closes marginally lower

KARACHI: In a day marked by fluctuating market dynamics, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index experienced a notable shift. Initially, the index faced a bout of profit-taking pressure, resulting in a decline of approximately 446 points during early trading hours.

However, demonstrating resilience, the index rebounded from this low, ultimately concluding the day almost unchanged at 51,027.94 points. This represented a marginal decrease of 0.08 per cent, equivalent to 42.88 points.

Throughout the trading day, the index showcased a fluctuating trend within a range of 497.54 points. It reached an intraday high of 51,121.92 points, marking an increase of 51.09 points, and a low of 50,624.38 points, reflecting a decrease of 446.45 points.

The total volume of the KSE-100 Index was recorded at 145.555 million shares. Among the 100 index companies, 38 registered gains, 48 witnessed losses, 1 remained unchanged, and 13 were left untraded.

Noteworthy contributors to the KSE-100 index included the miscellaneous sector with 28.33 points, power generation and distribution with 20.22 points, leather and tanneries with 16.47 points, automobile assembly with 13.99 points, and refinery with 8.84 points.

Conversely, the index faced pressure due to declines in Oil & Gas Exploration Companies with 76.26 points, Fertiliser with 32.86 points, Cement with 12.48 points, Engineering with 12.44 points, and Paper & Board with 4.34 points.

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Specifically, key companies responsible for dragging the index lower included PPL with 49.79 points, ENGRO with 33.12 points, OGDC with 27.51 points, FFC with 20.45 points, and CHCC with 14.04 points.

In the broader market context, the All-Share index concluded the trading session at 33,871.01, reflecting a net loss of 47.97 points. The total market volume stood at 321.404 million shares, marking a decrease from the previous session’s 364.071 million shares.

Additionally, the traded value was reported at Rs11.09 billion, indicating a decline of Rs4.84 billion. Across 152,644 trades involving 339 companies, 143 entities experienced gains, 168 faced losses, and 28 remained unchanged by the end of the trading day.