The benchmark KSE-100 Index close at 47,808.34 points
KARACHI
Pakistan Stock Exchange (PSX) witnessed a volatile session on Thursday, with the benchmark KSE-100 Index losing 419.26 points (-0.87 percent) to close at 47,808.34 points.
The market opened on a positive note and extended gains of the previous session during the first half of the session; however, the momentum faded in the second half and the bears took over. Financial analysts at Topline Securities said the reason for the selling spree in the second half could be attributed to the absence of official confirmation from both the International Monetary Fund (IMF) and the Ministry of Finance regarding the news of the IMF’s approval of the circular debt management plan, which was reported the previous day.
The benchmark index traded in a range of 996.16 points showing an intraday high of 48,622.9 points and an intraday low of 47,626.74 points. Among other indices, the KSE All Share Index shed 203.44 points (-0.64 percent) to close at 31,749.88 points, while KMI All Share Islamic Index shed 153.67 points (-0.66 percent) to close at 23,190.37 points.
Total volumes traded for the KSE-100 Index decreased by 8.03 million shares to 175.25 million shares against 183.28 million shares traded a session earlier. However, the overall market volumes increased by 9.91 million shares to 322.21 million shares against 312.30 million shares traded a session earlier.
Among scrips, WTL topped the volumes with 41.52 million shares, followed by BAFL (23.24 million) and OGDC (22.03 million). Stocks that contributed significantly to the volumes included WTL, BAFL, OGDC, TPLP, and CNERGY, which formed over 38 percent of total volumes.
A total of 330 companies traded shares in the stock exchange against 335 a session earlier, out of which shares of 104 closed up, shares of 208 closed down while shares of 18 companies remained unchanged. A total of 96 companies traded shares in the KSE-100 Index against 95 a session earlier, out of which share price of 32 companies closed up, 61 closed down and three remained unchanged.
The number of total trades increased by 8,137 to 164,277 against 156,140 trades in the previous session, while the value traded decreased by Rs1.55 billion to Rs12.76 billion as compared to the previous session.
In terms of rupee, NESTLE remained the top gainer and witnessed an increase of Rs95.18 (+1.36 percent) per share, closing at Rs7,095.15. The runner-up remained RMPL, the share price of which climbed up by Rs40 (+0.47 percent) to Rs8,600. SIEM remained the top loser in terms of rupee and witnessed a decrease of Rs22.99 (-3.42 percent) per share, closing at Rs650, followed by ZIL, the share price of which fell by Rs15 (-5.45 percent) to close at Rs260 per share.
The sectors taking the index towards south were oil & gas exploration companies (124 points), commercial banks (123 points), power generation & distribution (77 points), technology & communication (69 points), and oil & gas marketing companies (36 points). The major companies depriving the index of points remained OGDC (69 points), HUBC (64 points), PPL (60 points), MEBL (41 points), and SYS (33 points).
The sectors taking the index towards north were investment banks/ investment companies/ securities companies (74 points), miscellaneous (9 points), food & personal care products (8 points), glass & ceramics (4 points), and automobile parts & accessories (3 points). The major companies adding points to the index remained DAWH (80 points), UBL (36 points), NESTLE (12 points), LUCK (10 points), and LOTCHEM (8 points).
