PSX dips but stays above 110,000 mark

KARACHI: The Pakistan Stock Exchange (PSX) opened the last trading day of the week in the green, as the benchmark KSE-100 index rose by 430 points to 110,731.46 within the first few minutes of trading at around 9:18 AM, with a volume of 934,106.

By 9:38 AM, the KSE-100 index had surged by 547 points to 110,848.82, with the volume increasing to 8,088,273. This was the highest level the stock market reached before 12 PM.

However, the stock market entered negative territory around 11:48 AM, declining by 289 points to 110,012.02.

During this time, several KSE-100 index companies traded in the red, including:

Mehmood Textile Mills Limited (MEHT), down by 7.60 per cent or Rs46.64 to Rs566.68

Punjab Oil Mills Limited (POML), down by 5.46 per cent or Rs8.15 to Rs141.01

Pak-Gulf Leasing Company Limited (PGLC), down by 4.72 per cent or Rs0.99 to Rs20

Unity Foods Limited (UNITY), down by 3.89 per cent or Rs1.22 to Rs30.14

The Bank of Punjab (BOP), down by 3.22 per cent or Rs0.32 to Rs9.61

On the other hand, companies trading in the positive territory included:

EFU General Insurance Limited (EFUG), up by 6.26 per cent or Rs7.27 to Rs123.39

HBL Growth Fund (HGFA), up by 5.19 per cent or Rs0.54 to Rs10.94

Pakgen Power Limited (PKGP), up by 4.74 per cent or Rs4.98 to Rs110

Highnoon Laboratories Limited (HINOON), up by 1.54 per cent or Rs13.52 to Rs894

Thal Limited (THALL), up by 1.39 per cent or Rs5.61 to Rs408.99

The stock market had closed the previous day’s trading session at 110,301.16.

Looking at the 1-year change, the KSE-100 index has increased by 71.70 per cent. In terms of the year-to-date (YTD) change, the stock market is down by 4.34 per cent. The 52-week range for the PSX has been between 59,191.86 and 118,735.10.

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