The benchmark KSE-100 Index close at 43,830.51 points
KARACHI
Toeing the global stock markets, the Pakistan Stock Exchange (PSX) witnessed a bloodbath on Thursday, with the benchmark KSE-100 Index shedding 1,302.4 points (-2.89 percent) to close at 43,830.51 points.
The Russian invasion of Ukraine caused turmoil in financial markets and triggered a sell-off in global stock markets including the PSX. Prices for oil and natural gas and other commodities such as wheat, along with gold, palladium and other precious metals have surged, as investors fear supply disruptions.
The PSX opened on a negative note and remained in the red territory throughout the session. Heightened geopolitical risks combined with rising inflationary concerns added to the pressure on stocks. The international crude oil prices broke above $100 a barrel for the first time since 2014, which also dampened the investors’ interest.
The KSE-100 Index moved in a range of 478.98 points, showing an intraday low of 43,791.31 points and a high of 45,132.92 points, which was the previous day close. Among other indices, the KSE All Share Index shed 817.67 points (-2.65 percent) to close at 30,062.34 points, while KMI All Share Islamic Index shed 614.81 points (-2.75 percent) to close at 21,723.61 points.
A total of 379 companies traded shares in the stock exchange, out of them shares of 38 closed up, shares of 316 closed down while shares of 25 companies remained unchanged. Out of 97 traded companies in the KSE-100 Index, 5 closed up and 87 closed down and five remained unchanged.
The overall market volumes increased by 163.70 million to 350.06 million shares. Total volumes traded for the KSE-100 Index increased by 41.77 million to 136.26 million shares. The number of total trades increased by 28,312 to 123,693, while the value traded increased by Rs1.95 billion to Rs8.75 billion. Overall, market capitalisation decreased by Rs204.15 billion.
Among scrips, FlyingR1 topped the volumes with 38.42 million shares, followed by WTL (33.14 million) and HUMNL (20.48 million). Stocks that contributed significantly to the volumes included FlyingR1, WTL, HUMNL, KEL and CNERGY, which formed over 34 percent of total volumes.
In terms of rupee, RMPL remained the top gainer for the third straight day and witnessed an increase of Rs200 (1.94 percent) per share, closing at Rs10,500, whereas the runner-up was BHAT, the share price of which climbed up by Rs74 (5.92 percent) to Rs1,325. NESTLE remained the top loser in terms of rupee for the second straight day and witnessed a decrease of Rs200 (3.57 percent) per share, closing at Rs5,400, followed by BATA, the share price of which declined by Rs109 (5.19 percent) to close at Rs1,990 per share.
The sectors taking the index towards south were commercial banks with 262 points, cement (181 points), technology & communication (176 points), fertilizer (116 points) and oil & gas exploration companies (79 points). The most points taken off the index were by HBL which stripped the index of 89 points followed by LUCK (83 points), SYS (79 points), TRG (76 points) and ENGRO (52 points).
The only sector taking the index towards north was synthetic & rayon. The most points added to the index were by SCBPL contributed 4 points followed by INDU, CEPB and EFUG with one point each.
