KARACHI, (TLTP): Pakistan Stock Exchange (PSX) edged lower for the third straight session on Monday, with the benchmark KSE-100 Index losing 277.87 points (-0.43 percent) to close at 64,237.02 points.
The market opened on a positive note but took a dip soon. However, strong buying took the indices in green territory again and the benchmark index gained over 550 points to breach the 65,000 points level. However, selling pressure persisted for the remainder of the session amid a lack of positive triggers, which led to a gradual decline in the market.
The benchmark index traded in a range of 885.91 points, showing an intraday high of 65,069.43 points and an intraday low of 64,183.52 points. Among other indices, the KSE All Share Index shed 250.25 points (-0.58 percent) to close at 43,116.34 points. Similarly, the KMI All Share Islamic Index shed 179.89 points (-0.57 percent) to close at 31,639.59 points.
Total volumes traded for the KSE-100 Index decreased by 403.51 million shares to 314.52 million shares against 718.03 million traded in the previous session. Similarly, the overall market volumes decreased by 475.55 million shares to 484.01 million shares against 949.56 million shares traded a session earlier.
Among scrips, KEL topped the volumes with 168.81 million shares (around 35 percent of total traded volumes), followed by WTL (21.98 million) and PIAA (17.94 million). Stocks that contributed significantly to the volumes included KEL, WTL, PIAA, PTC, and CNERGY, which formed around 50 percent of total volumes.
A total of 356 companies traded shares in the stock exchange against 361 in the previous session, out of which shares of 103 closed up, shares of 222 companies closed down while shares of 31 companies remained unchanged. A total of 96 companies traded shares in the KSE-100 Index against the same number of companies in the previous session, out of which share prices of 26 companies closed up, 66 companies closed down and four remained unchanged.
The number of total trades decreased to 186,823 from 229,927 recorded in the previous session, while the value traded decreased by Rs6.62 billion to Rs12.74 against Rs19.36 billion in the previous session.
In terms of rupee, PSMC remained the top gainer with an increase of Rs50.46 (+7.5 percent) per share, closing at Rs723.31. The runner-up remained RCML, the share price of which climbed up by Rs35 (+6.48 percent) to Rs575. NESTLE remained the top loser with a decrease of Rs150 (-1.79 percent) per share, closing at Rs8,250, followed by SFL, the share price of which fell by Rs135 (-7.5 percent) to close at Rs1,665 per share.
The major sectors taking the index towards south were commercial banks (137 points), oil & gas exploration companies (93 points), cement (87 points), oil and gas marketing companies (56 points), technology & communication (46 points), textile composite (27 points), power generation and distribution and refinery (20 points each), and pharmaceuticals and leather and tanneries (12 points each).
Ten major companies depriving the index of points remained UBL (35 points), PPL (26 points), OGDC (18 points), TRG (16 points), PSO (15 points), ILP, FFBL and MCB (14 points each), SNGP (11 points), and HBL (10 points).
The major sectors taking the index towards north remained fertilizer (226points), investment bank/ investment companies/ securities companies (40 points), miscellaneous (19 points), Synthetic and rayon (8 points), and glass and ceramics (6 points).
Ten major companies adding points to the index remained ENGRO (92 points), EFERT (45 points), DAWH (23 points), PSMC (20 points), PSEL (10 points), IBFL and NATF (5 points each), BAHL (4 points), MEHT and FFC (3 points each).
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