PSX suffers weekly loss of over 2,100 points

KARACHI: The Pakistan Stock Exchange (PSX) endured a challenging week, with the benchmark KSE-100 index witnessing a total loss of 2,124 points over five trading sessions from Monday to Friday.

The market, which closed at 75,878 points last week, saw a decline, ending at 73,754 points on Friday.

Focusing on Friday’s session, the KSE-100 index fell by 0.15 per cent, losing 108.92 points. During the day, the index experienced an intraday high of 73,902 points and a low of 71,781 points. The total trading volume for the KSE-100 index reached 208.56 million shares.

Out of the 100 index companies, 40 recorded gains, 53 posted losses, 5 remained unchanged, and 2 were not traded.

The decline in the KSE-100 index was primarily driven by sectors including Commercial Banks, which accounted for a loss of 240.44 points, Oil & Gas Exploration Companies (93.11 points), Food & Personal Care Products (34.48 points), Oil & Gas Marketing Companies (26.9 points), and Refineries (17.66 points).

Conversely, certain sectors provided some support to the index. The Cement sector added 75.79 points, Fertilizers contributed 63.33 points, Pharmaceuticals gained 55.84 points, Engineering added 44.74 points, and Automobile Assemblers contributed 37.61 points.

Among individual companies, the major contributors to the index’s decline were Meezan Bank Limited (MEBL) with a loss of 127 points, Pakistan Petroleum Limited (PPL) with 53.16 points, Habib Bank Limited (HBL) with 36.79 points, MCB Bank Limited (MCB) with 30.89 points, and Oil and Gas Development Company (OGDC) with 27.93 points.

On the positive side, Fauji Fertilizer Company (FFC) added 68.15 points, Millat Tractors Limited (MTL) contributed 44.81 points, Systems Limited (SYS) added 29.2 points, The Searle Company Limited (SEARL) gained 24.84 points, and D.G. Khan Cement Company Limited (DGKC) contributed 23.57 points to the index.

Read next: Gold prices remain unchanged on Friday