KSE-100 edges down by 3 points, ending in the red

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index ended the Tuesday trading session nearly unchanged, closing at 72,761.20, just 3.04 points lower than the previous close.

Throughout the day, the index oscillated within a range of 552.13 points, peaking at an intraday high of 73,260.09 (+495.85 points) and hitting a low of 72,707.96 (-56.28 points). The overall volume for the KSE-100 index reached 269.93 million shares.

Out of the 100 companies listed in the KSE-100 index, 45 ended the day with gains, while 52 experienced losses, and 3 remained unchanged.

The KSE-100 index faced downward pressure from various sectors, notably Oil & Gas Exploration Companies (-147.32 points), Fertilizers (-79.42 points), Cement (-60.19 points), Textile Composite (-27.62 points), and Oil & Gas Marketing Companies (-23.92 points).

Key contributors to this decline included companies like Pakistan Petroleum Limited (PPL), Engro Fertilizers Limited (EFERT), Oil & Gas Development Company (OGDC), Meezan Bank Limited (MEBL), and Mari Petroleum Company Limited (MARI).

Despite these downturns, some sectors provided support to the index. Investment Banks, Investment Companies, and Securities Companies contributed 131.73 points, with significant boosts from sectors like Power Generation & Distribution (102.87 points), Pharmaceuticals (76.04 points), Cable & Electrical Goods (24.02 points), and Leather & Tanneries (16.71 points).

Companies that helped offset the decline included Dawood Hercules Corporation (DAWH), Hub Power Company (HUBC), Kot Addu Power Company (KAPCO), Hinopak Motors Limited (HINOON), and Pak Elektron Limited (PAEL).

In the broader market, the All-Share index closed at 47,235.68, representing a net loss of 115.47 points.

The total market volume stood at 621.83 million shares, which is an increase compared to the 578.39 million shares traded in the previous session. The traded value increased by Rs449.3 million, reaching Rs24.97 billion.

Overall, the market showed mixed sentiments, with certain sectors dragging down the index while others provided stability and support.

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