PSX sees decline as KSE-100 drops by 501 points

KARACHI: The Pakistan Stock Exchange (PSX) experienced a downward trend on Monday, with the benchmark KSE-100 index closing at 73,252.56 points, reflecting a decrease of 501.46 points, or 0.68 per cent.

During the trading session, the KSE-100 index fluctuated within a range of 934.10 points, reaching an intraday high of 73,915.45 points (+161.43) and a low of 72,981.35 points (-772.67). The total trading volume for the index was 89.52 million shares.

Out of the 100 companies listed on the index, 34 saw an increase in their share prices, 60 recorded a decline, and 6 remained unchanged. The sectors that contributed to the decline included Oil & Gas Exploration Companies (-148.36 points), Commercial Banks (-141.61 points), Power Generation & Distribution (-97.92 points), Fertilizer (-97.83 points), and Cement (-34.93 points).

Conversely, sectors that supported the index included Leather & Tanneries (+17.98 points), Automobile Assemblers (+9.44 points), Oil & Gas Marketing Companies (+8.06 points), Insurance (+7.68 points), and Automobile Parts & Accessories (+4.31 points).

Key companies dragging the index down were Hub Power Company Limited (HUBC) with a loss of 77.72 points, Fauji Fertilizer Company Limited (FFC) with 55.9 points, Oil and Gas Development Company Limited (OGDC) with 52.56 points, Meezan Bank Limited (MEBL) with 47.6 points, and Pakistan Petroleum Limited (PPL) with 42.52 points.

On the positive side, companies that buoyed the index included Service Industries Limited (SRVI) adding 17.98 points, Systems Limited (SYS) with 12.57 points, Pakistan State Oil (PSO) with 10.35 points, National Foods Limited (NATF) with 9.48 points, and Adamjee Insurance Company Limited (AICL) with 7.68 points.

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