The benchmark KSE-100 Index close at 43,393.14 points
\n KARACHI
\nPakistan Stock Exchange (PSX) witnessed a bloodbath on Monday, with the benchmark KSE-100 Index shedding 1,447.67 points (-3.23 percent) to close at 43,393.14 points.
\nThis has been the highest decline of points of the benchmark index in a single day since December 02, 2021. The market opened on a negative note and remained in the red territory throughout the session, as investors preferred selling amid global stampede in equities due to concern over inflation, possible recession and Covid-19 lockdown in Chinese cities.
\nContinuous depreciation of rupee against the US dollar, ballooning trade deficit during the current fiscal year due to a massive growth in imports, and fast depleting foreign exchange reserves dented the investors\u2019 confidence.
\nMoreover, the government\u2019s indecisiveness over economic decisions weighed on the bourse. The uncertainty regarding the 7th review of the International Monetary Fund (IMF) programme also added fuel to fire. The market also witnessed selling pressure due to 22-year high cut-off yields, which have created the room for an interest rate hike in the upcoming Monetary Policy Committee meeting.
\nThe KSE-100 Index moved in a range of 1,608.2 points, showing an intraday high of 44,841.41 and a low of 43,233.21 points. Among other indices, the KSE All Share Index shed 890.11 points (-2.92 percent) to close at 29,590.19 points, while KMI All Share Islamic Index shed 806.52 points (-3.65 percent) to close at 21,280.55 points.
\nA total of 368 companies traded shares in the stock exchange compared to 333 a session earlier. Out of traded companies, shares of 44 closed up, shares of 310 closed down while shares of 14 companies remained unchanged. Out of 96 traded companies in the KSE-100 Index, 6 closed up, 89 closed down and one remained unchanged.
\nThe overall market volumes increased by 115.72 million to 305.21 million shares. Total volumes traded for the KSE-100 Index increased to 170.74 million shares. The number of total trades increased by 45,423 to 122,169, while the value traded increased by Rs3.58 billion to Rs9.24 billion. Overall market capitalisation decreased by Rs228.57 billion.
\nAmong scrips, LOTCHEM topped the volumes with 27.01 million shares, followed by CNERGY (23.86 million) and WTL (20.98 million). Stocks that contributed significantly to the volumes included LOTCHEM, CNERGY, WTL, TELE and GGL, which formed around 31 percent of total volumes.
\nIn terms of rupee, TICL remained the top gainer and witnessed an increase of Rs19.57 (+7.46 percent) per share, closing at Rs282. The runner-up remained MUREB, the share price of which climbed up by Rs18.95 (+4.68 percent) to Rs423.95. RMPL remained the top loser in terms of rupee and witnessed a decrease of Rs850 (-7.32 percent) per share, closing at Rs10,750, followed by BHAT, the share price of which fell by Rs115.34 (-7.5 percent) to close at Rs1,422.55 per share.
\nThe sectors taking the index towards the south were commercial banks (305 points), cement (237 points), technology & communication (183 points), oil & gas exploration companies (130 points) and fertilizer (104 points). The most points taken off the index were by LUCK (118 points), SYS (110 points), HBL (76 points), MEBL (66 points) and TRG (58 points).
\nThe sector taking the index towards the north was sugar & allied industries (4 points). The most points added to the index were by MUREB (6 points), LOTCHEM (5 points), SML (4 points), and SCBPL and BAFL (2 points each).<\/p>\n","protected":false},"excerpt":{"rendered":"
The benchmark KSE-100 Index close at 43,393.14 points KARACHI Pakistan Stock Exchange (PSX) witnessed a bloodbath on Monday, with the benchmark KSE-100 Index shedding 1,447.67 points (-3.23 percent) to close at 43,393.14 points. This has been the highest decline of points of the benchmark index in a single day since December 02, 2021. The market […]<\/p>\n","protected":false},"author":2,"featured_media":254263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[4426,1307,205],"class_list":{"0":"post-259604","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bloodbath","9":"tag-index","10":"tag-psx"},"yoast_head":"\n