PSX ends record high run, closes day in red

KARACHI: The Pakistan Stock Exchange (PSX) commenced the week with a decline as the KSE-100 index closed at 75,084 points, marking a drop of 258.34 points, or 0.34 per cent, on Monday.

Throughout the session, the KSE-100 index exhibited volatility, trading within a range of 884.24 points.

The index peaked at an intraday high of 75,618.49 points, gaining 276.14 points, and hit a low of 74,734.25 points, losing 608.1 points. The total trading volume for the KSE-100 index was recorded at 141.36 million shares.

Among the 100 index companies, 36 ended in positive territory, 60 declined, two remained unchanged, and two were not traded.

The sectors contributing to the decline included commercial banks (-124.75 points), cement (-77.25 points), oil and gas exploration companies (-62.34 points), investment banks, investment companies, and securities companies (-44.83 points), and fertiliser (-29.86 points).

Conversely, the index saw some support from Technology & Communication (+77.43 points), Engineering (+37.18 points), Automobile Parts & Accessories (+19.06 points), Power Generation & Distribution (+18.9 points), and Leather & Tanneries (+5.21 points).

Key companies that pulled the index down were MCB Bank (-58.08 points), Engro Corporation (-57.81 points), Oil & Gas Development Company (-40.04 points), Dawood Hercules Corporation (-39.78 points), and Habib Bank Limited (-31.19 points).

On the other hand, companies that bolstered the index included Systems Limited (+51.06 points), Meezan Bank (+24.66 points), TRG Pakistan (+22.6 points), Fauji Fertiliser Bin Qasim Limited (+22.01 points), and International Industries Limited (+21.99 points).

In the broader market, the All-Share index concluded the session at 48,646.22 points, reflecting a net loss of 123.24 points. The total market volume stood at 375.36 million shares, down from 496.70 million in the previous session, while the traded value decreased by Rs1.35 billion to Rs16.30 billion.

Overall, there were 221,342 trades reported across 378 companies, with 137 advancing, 221 declining, and 20 remaining unchanged.

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