The benchmark KSE-100 Index close at 43,902.04 points
\n KARACHI
\nThe Pakistan Stock Exchange (PSX) felt the heat of political turmoil on Monday, with the benchmark KSE-100 Index nosediving 1,250.07 points (-2.77 percent) to close at 43,902.04 points.
\nThe PSX opened on a sharp negative note and fell more than 1,100 points within initial minutes trading. The index breached two psychological levels of 45,000 points and 44,000 points during the session and remained in the red territory throughout the session.
\nThe index witnessed the selling spree due to the political events that took place on Sunday, as President Arif Alvi dissolved the National Assembly on Prime Minister Imran Khan\u2019s advice a day earlier after a no-confidence motion against the sitting premier was dismissed by the NA speaker. All these events dented the investors\u2019 confidence.
\nThe KSE-100 Index moved in a range of 1,328.03 points, showing an intraday low of 43,824.08 points and a high of 45,152.11. Among other indices, the KSE All Share Index shed 726.2 points (-2.35 percent) to close at 30,129.34 points, while KMI All Share Islamic Index shed 604.73 points (-2.72 percent) to close at 21,663.7 points.
\nA total of 314 companies traded shares in the stock exchange, out of them shares of 32 closed up, shares of 270 closed down while shares of 12 companies remained unchanged. Out of 95 traded companies in the KSE-100 Index, 6 closed up, 86 closed down and three remained unchanged.
\nThe overall market volumes decreased by 218.63 million to 170.49 million shares. Total volumes traded for the KSE-100 Index decreased by 50.67 million to 75.84 million shares. The number of total trades decreased by 56,903 to 85,878, while the value traded decreased by Rs5.61 billion to Rs5.50 billion. Overall, market capitalisation decreased by Rs183.78 billion.
\nAmong scrips, TELE topped the volumes with 17.04 million shares, followed by KEL (16.01 million) and TPLP (12.56 million). Stocks that contributed significantly to the volumes included TELE, KEL, TPLP, GGL and WTL, which formed around 33 percent of total volumes.
\nIn terms of rupee, COLG remained the top gainer and witnessed an increase of Rs99.98 (+4.54 percent) per share, closing at Rs2,299.99. The runner-up was OTSU, the share price of which climbed up by Rs17.01 (+7.47 percent) to Rs244.7. SAPT remained the top loser in terms of rupee and witnessed a decrease of Rs75.01 (-7.44 percent) per share, closing at Rs933.51, followed by SFL, the share price of which declined by Rs66.79 (-7.45 percent) to close at Rs830 per share.
\nThe sectors taking the index towards the south were commercial banks (-324 points), cement (-253 points), technology & communication (-101 points), oil & gas exploration companies (-93 points), and power generation & distribution (-69 points). The most points taken off the index were by LUCK (128 points), HBL (82 points), MEBL (71 points), TRG (60 points) and PSO (53 points).
\nThe sectors taking the index towards the north were chemical (12 points), miscellaneous (2 points), vanaspati & allied industries and close-end mutual fund (one point each). The most points added to the index were by COLG (18 points), HINOON (3 points), SHFA (2 points), and POML and HGFA (one point each). <\/p>\n","protected":false},"excerpt":{"rendered":"
The benchmark KSE-100 Index close at 43,902.04 points KARACHI The Pakistan Stock Exchange (PSX) felt the heat of political turmoil on Monday, with the benchmark KSE-100 Index nosediving 1,250.07 points (-2.77 percent) to close at 43,902.04 points. The PSX opened on a sharp negative note and fell more than 1,100 points within initial minutes trading. […]<\/p>\n","protected":false},"author":2,"featured_media":232057,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[325,1187,4893,205],"class_list":{"0":"post-253070","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-kse","9":"tag-nosedives","10":"tag-political-turmoil","11":"tag-psx"},"yoast_head":"\n