PSX climbs 0.29 per cent after seven-day losing streak

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index ended a seven-session losing streak on Wednesday, closing at 72,797.43 points. The index gained 207.94 points, or 0.29 per cent, marking a positive turn in the market.

Throughout the session, the KSE-100 index fluctuated within a range of 704.76 points, hitting an intraday high of 73,169.00 points (+579.51) and a low of 72,464.24 points (-125.25). The total trading volume for the KSE-100 index was recorded at 106.57 million shares.

Out of the 100 companies in the index, 64 saw their share prices rise, 27 declined, 8 remained unchanged, and 1 company saw no trading activity.

The KSE-100 index was bolstered by significant contributions from sectors such as Oil & Gas Exploration Companies (81.07 points), Technology & Communication (53.35 points), Fertilizer (44.9 points), Oil & Gas Marketing Companies (28.3 points), and Power Generation & Distribution (26.38 points).

Conversely, the index faced downward pressure from sectors including Commercial Banks (54.21 points), Food & Personal Care Products (21.16 points), Textile Composite (12.75 points), Leather & Tanneries (8.59 points), and Automobile Assemblers (5.62 points).

Key contributors to the index’s rise were Pakistan Petroleum Limited (PPL) with 50.18 points, Systems Limited (SYS) with 33.54 points, Engro Corporation (ENGRO) with 27.07 points, Pakistan Oilfields Limited (POL) with 14.51 points, and Pakistan State Oil (PSO) with 13.92 points.

On the other hand, the companies that negatively impacted the index included National Bank of Pakistan (NBP) with a decline of 31.28 points, Bank Alfalah Limited (BAFL) with 30.04 points, Colgate-Palmolive Pakistan (COLG) with 20.07 points, Lucky Cement (LUCK) with 16.56 points, and Habib Metropolitan Bank (HMB) with 11.71 points.

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