KARACHI
Pakistan Stock Exchange (PSX) turned bearish on Monday ahead of the Monetary Policy Committee (MPC) meeting scheduled this week, with the KSE-100 Index shedding 147.75 points (-0.32 percent) to close at 45,865.73 points.
The market opened on a positive note and hit the day’s high within the first few minutes. Later, it switched between the green and red territories during the first half an hour’s trading and then bears controlled the market mood.
The Pakistani rupee extended gains against the US dollar in both interbank and open markets by around Rs1.79 and Rs6 but the market remained somewhat unaffected, fearing a hike in interest rate in the MPC week on September 14.
The latest treasury-bills auction on Thursday last witnessed a sharp increase in the cut-off yields, reaching 24.5 percent, 24.78 percent, and 25.06percent for three, six, and 12 months respectively. This showed a rise of 162bps for 3 months and 213bps for 12 months as compared to the last auction held on August 23. This indicates that the market is pricing in a higher interest rate scenario in the near future.
The benchmark index traded in a range of 496.53 points, showing an intraday high of 46,174.68 points and an intraday low of 45,678.15 points. Among other indices, the KSE All Share Index shed 77.22 points (-0.25 percent) to close at 30,620.74 points, while KMI All Share Islamic Index gained 22.15 points (-0.10 percent) to close at 22,186.92 points.
Total volumes traded for the KSE-100 Index increased by 72.20 million shares to 140.18 million shares against 67.98 million shares traded a session earlier. The overall market volumes increased by 63.63 million shares to 213.20 million shares against 149.57 million shares traded a session earlier.
Among scrips, BAFL topped the volumes with 59.32 million shares, followed by KEL (14.65 million) and PPL (11.68 million). Stocks that contributed significantly to the volumes included BAFL, KEL, PPL, SNGP, and SEARLR2, which formed around 49 percent of total volumes.
A total of 304 companies traded shares in the stock exchange aExpected interest rate hike weighs on stocks; 148pts shed
TLTP
KARACHI
Pakistan Stock Exchange (PSX) turned bearish on Monday ahead of the Monetary Policy Committee (MPC) meeting scheduled this week, with the KSE-100 Index shedding 147.75 points (-0.32 percent) to close at 45,865.73 points.
The market opened on a positive note and hit the day’s high within the first few minutes. Later, it switched between the green and red territories during the first half an hour’s trading and then bears controlled the market mood.
The Pakistani rupee extended gains against the US dollar in both interbank and open markets by around Rs1.79 and Rs6 but the market remained somewhat unaffected, fearing a hike in interest rate in the MPC week on September 14.
The latest treasury-bills auction on Thursday last witnessed a sharp increase in the cut-off yields, reaching 24.5 percent, 24.78 percent, and 25.06percent for three, six, and 12 months respectively. This showed a rise of 162bps for 3 months and 213bps for 12 months as compared to the last auction held on August 23. This indicates that the market is pricing in a higher interest rate scenario in the near future.
The benchmark index traded in a range of 496.53 points, showing an intraday high of 46,174.68 points and an intraday low of 45,678.15 points. Among other indices, the KSE All Share Index shed 77.22 points (-0.25 percent) to close at 30,620.74 points, while KMI All Share Islamic Index gained 22.15 points (-0.10 percent) to close at 22,186.92 points.
Total volumes traded for the KSE-100 Index increased by 72.20 million shares to 140.18 million shares against 67.98 million shares traded a session earlier. The overall market volumes increased by 63.63 million shares to 213.20 million shares against 149.57 million shares traded a session earlier.
Among scrips, BAFL topped the volumes with 59.32 million shares, followed by KEL (14.65 million) and PPL (11.68 million). Stocks that contributed significantly to the volumes included BAFL, KEL, PPL, SNGP, and SEARLR2, which formed around 49 percent of total volumes.
A total of 304 companies traded shares in the stock exchange against 311 a session earlier, out of which shares of 113 closed up, shares of 171 closed down while shares of 20 companies remained unchanged.
A total of 91 companies traded shares in the KSE-100 Index against 89 a session earlier, out of which share price of 31 companies closed up, 56 closed down and four remained unchanged.
The number of total trades increased by 9,094 to 95,897 as compared to 86,803 trades recorded in the previous session, while the value traded increased by Rs2.64 billion to Rs8.19 billion as compared to Rs5.55 billion in the previous session.
In terms of rupee, PSEL remained the top gainer and witnessed an increase of Rs29 (+4.45 percent) per share, closing at Rs680. The runner-up remained RCML, the share price of which climbed up by Rs13.25 (+2.52 percent) to Rs540. MEHT remained the top loser in terms of rupee and witnessed a decrease of Rs46.36 (-7.5 percent) per share, closing at Rs571.77, followed by BATA, the share price of which fell by Rs25 (-1.44 percent) to close at Rs1,710 per share.
The sectors taking the index towards south were commercial banks (67 points), fertilizer (52 points), cement (23 points), textile composite (20 points), and chemical (11 points). The major companies depriving the index of points remained UBL (36 points), ENGRO (35 points), POL (27 points), MCB (17 points), and EFERT (15 points).
The major sectors taking the index towards north remained oil & gas marketing companies (26 points), miscellaneous (17 points), investment banks/ investment companies/ securities companies (13 points), oil & gas exploration companies (7 points), and transport (4 points). The major companies adding points to the index remained PPL (32 points), SNGP (20 points), PSEL (16 points), DAWH (14 points), and SEARL (6 points).gainst 311 a session earlier, out of which shares of 113 closed up, shares of 171 closed down while shares of 20 companies remained unchanged.
A total of 91 companies traded shares in the KSE-100 Index against 89 a session earlier, out of which share price of 31 companies closed up, 56 closed down and four remained unchanged.
The number of total trades increased by 9,094 to 95,897 as compared to 86,803 trades recorded in the previous session, while the value traded increased by Rs2.64 billion to Rs8.19 billion as compared to Rs5.55 billion in the previous session.
In terms of rupee, PSEL remained the top gainer and witnessed an increase of Rs29 (+4.45 percent) per share, closing at Rs680. The runner-up remained RCML, the share price of which climbed up by Rs13.25 (+2.52 percent) to Rs540. MEHT remained the top loser in terms of rupee and witnessed a decrease of Rs46.36 (-7.5 percent) per share, closing at Rs571.77, followed by BATA, the share price of which fell by Rs25 (-1.44 percent) to close at Rs1,710 per share.
The sectors taking the index towards south were commercial banks (67 points), fertilizer (52 points), cement (23 points), textile composite (20 points), and chemical (11 points). The major companies depriving the index of points remained UBL (36 points), ENGRO (35 points), POL (27 points), MCB (17 points), and EFERT (15 points).
The major sectors taking the index towards north remained oil & gas marketing companies (26 points), miscellaneous (17 points), investment banks/ investment companies/ securities companies (13 points), oil & gas exploration companies (7 points), and transport (4 points). The major companies adding points to the index remained PPL (32 points), SNGP (20 points), PSEL (16 points), DAWH (14 points), and SEARL (6 points).
