Bears retained control of the Pakistan Stock Exchange (PSX) on Friday, witnessing a decline in the benchmark KSE-100 index by 265.57 points or 0.41%, settling at 65,151.83.

The KSE-100 index displayed volatility, trading within a range of 477.37 points. It reached an intraday high of 65,534.02 (+116.62) and a low of 65,056.66 (-360.74) points, showcasing fluctuating market sentiments.

PSX CLOSING SUMMARY

CategoryValue
Current Value65,151.82
Change-265.58 (-0.41%)
Date and TimeMar 22, 2024 1:15 PM
High65,534.02
Low65,056.65
Volume83,027,726
1-Year Change61.36%
YTD Change0.76%
Previous Close65,417.40
Day Range65,056.65 — 65,534.02
52-Week Range39,482.17 — 67,093.96

TRADING VOLUME AND INDEX PERFORMANCE

The total volume of the KSE-100 index stood at 83.028 million shares, marking the lowest volume since September 2023. Among the 100 index companies, 33 closed higher, 59 closed lower, 2 remained unchanged, while 6 were untraded.

KSE100_2024-03-22_17-48-16

SECTOR-WISE PERFORMANCE

The decline in the KSE-100 index was predominantly driven by Commercial Banks, Oil & Gas Exploration Companies, Power Generation & Distribution, Fertilizer, and Food & Personal Care Products sectors.

INDEX SUPPORT AND DRAGS

Conversely, the index found support from Miscellaneous, Paper & Board, Textile Composite, Real Estate Investment Trust, and Modarabas sectors. Notable companies such as OGDC, UBL, HBL, HUBC, and PTC contributed to dragging the index lower, while NBP, PSEL, MEBL, TRG, and SYS added points to the index.

BROADER MARKET PERFORMANCE

In the broader market, the All-Share index concluded at 43,240.78, registering a net loss of 259.14 points. Total market volume decreased to 208.409 million shares, with a traded value of Rs7.15 billion, depicting a decrease of Rs4.16 billion.

TOP TEN BY VOLUME

The top ten companies by volume included PAKRI, PIAA, PTC, WTL, AGL, HASCOL, BOP, CNERGY, KEL, and PIBTL.

StockVolume
PAKRI24,162,000
PIAA16,544,000
PTC10,930,294
WTL10,308,495
AGL10,141,500
HASCOL8,710,000
BOP8,281,048
CNERGY7,172,990
KEL5,776,084
PIBTL5,155,500

YEARLY PERFORMANCE

Noteworthy, the KSE-100 index has gained 23,699 points or 57.17% during the fiscal year, while the ongoing calendar year has witnessed a cumulative increase of 2,701 points, equivalent to 4.32%.

MARKET NOISE

Domestic Gold Prices in Pakistan fell on Friday, reflecting global trends as 24-karat gold dropped by Rs4,200 to Rs228,200 per tola. The decline mirrors the international market’s downward trajectory, influenced by a stronger US Dollar and optimism in the US economy. Amidst speculations regarding future rate cuts and ongoing geopolitical tensions, market sentiments remain volatile.

The Pakistani Rupee (PKR) showed strength against the US Dollar this week, appreciating by 60 paisa to settle at PKR 278.14 per USD, a notable improvement from the previous week. In today’s interbank session alone, the PKR gained 25.57 paisa against the USD, closing at PKR 278.14. The dynamic nature of currency trading was evident with an intraday high (bid) of 278.6 and a low (ask) of 278.35. Open market rates quoted the dollar at PKR 278.24 for buying and PKR 280.86 for selling, reflecting sentiments and preferences beyond formal banking channels.

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