PSX in red: KSE-100 falls by more than 2,000 points

KARACHI: On the second trading day of the week, the Pakistan Stock Exchange (PSX) opened in the red, with the benchmark KSE-100 index dropping by over 100 points as trading began. At around 9:31 AM, the PSX was down by 122.04 points, standing at 113,398.28, with a volume of 1,238,769 shares traded.

Though the market attempted to recover, it briefly rose by 124.39 points, reaching 113,644.71 at 9:37 AM, with the volume increasing to 6,325,588 shares. However, it could not sustain the gains and fell sharply by 960 points to 112,559.77 by 9:48 AM.

The market continued to fluctuate throughout the morning. At 10:56 AM, it gained 40 points to reach 113,560.69, with the volume increasing to 49,058,761 shares. One of the steepest decline of the day occurred at 11:43 AM, when the KSE-100 index plunged by 1,430 points to 112,081.78, with a trading volume of 81,458,515 shares.

The stock market continued its decline, dropping by 2,085.37 points to 111,434.95 around 2:46 PM, with a trading volume of 169,937,491. This remained the day’s low until 3:10 PM.

Among the KSE-100 index companies, those trading in the red included:

Kohinoor Spinning Mills Limited (KOSM) down by 4.02 per cent or Rs0.26 to Rs6.21

International Industries Limited (INIL) down by 3.23 per cent or Rs5.20 to Rs156

Systems Limited (SYS) down by 3 per cent or Rs17.99 to Rs582.50

Frieslandcampina Engro Pakistan Limited (FCEPL) down by 2.91 per cent or Rs2.34 to Rs78

Fauji Fertilizer Company Limited (FFC) down by 2.73 per cent or Rs11.17 to Rs398.49

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

Punjab Oil Mills Limited (POML) up by 4.06 per cent or Rs5.86 to Rs150

Lucky Core Industries Limited (LCI) up by 2.76 per cent or Rs31.63 to Rs1,177

JDW Sugar Mills Limited (JDWS) up by 2.32 per cent or Rs19.26 to Rs851

Unilever Pakistan Foods Limited (UPFL) up by 2.29 per cent or Rs504 to Rs22,500

HBL Growth Fund (HGFA) up by 2.24 per cent or Rs0.24 to Rs10.94

Looking at the broader performance, the KSE-100 index has traded within a 52-week range of 59,191.86 to 118,735.10. Year-to-date (YTD), the PSX is down by 2.35 per cent, while on a 1-year basis, the index has seen a substantial rise of 79.09 per cent.

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