The commencement of the trading week witnessed a stark downturn in Pakistan’s stock market, with the KSE-100 index experiencing a considerable setback. This shift underscores the fragile nature of investor confidence amidst the country’s current political landscape. The index lost 1200 points in the previous session.

Market Summary
As ofFeb 12, 2024 4:15 PM
Closing61,065.31
Change-1,878.43 (-2.98%)
High62,634.37
Low60,647.67
Volume200,894,460
1-Year Change46.29%
YTD Change-5.56%
Previous Close62,943.74
Day Range60,647.67 — 62,634.37
52-Week Range39,482.17 — 67,093.96

 

A DEEP DIVE INTO THE MARKET’S MOVEMENTS

The KSE-100 index plummeted by 1,878.4 points, a 2.98% fall, marking one of its most significant daily declines in history. This downturn reflects growing concerns over the political instability following the recent election outcomes, further exacerbated by the urgent need for a substantial International Monetary Fund (IMF) loan to meet looming debt obligations.

INTRADAY DYNAMICS

Throughout the trading session, the index fluctuated notably, dipping as much as 2,296 points (3.65%) at its lowest. Despite a minor recovery, the market closed deeply in the red, with an intraday high and low that painted a picture of volatility and unease among investors.

TOP ACTIVE STOCKS

SYMBOLPRICECHANGEVOLUME
KEL4.21-0.44 (-9.46%)50,348,573
WTL1.21-0.07 (-5.47%)34,623,947
OGDC134.20-10.88 (-7.50%)14,939,483
HASCOLDEF6.94-0.68 (-8.92%)13,219,000
PPL108.02-8.76 (-7.50%)12,883,624
FFL8.86-0.95 (-9.68%)12,817,361
PAEL21.41-1.30 (-5.72%)12,296,560
CNERGY3.82-0.23 (-5.68%)11,896,354
BOP6.080.04 (0.66%)11,127,312
PIAA9.39-1.00 (-9.62%)9,751,000

 

SECTORAL IMPACT

The Oil & Gas Exploration sector emerged as the primary contributor to the index’s decline, with significant losses also recorded in the Commercial Banks, Cement, Oil & Gas Marketing Companies, and Power Generation & Distribution sectors. Contrastingly, modest gains were noted in the Synthetic & Rayon and Leasing Companies sectors, though these were insufficient to offset the broader market downturn.

LEADING MARKET MOVERS

Key companies significantly impacting the index’s trajectory included OGDC, PPL, MARI, HUBC, and LUCK, which collectively stripped the index of vital points. On the flip side, a few entities like IBFL, BOP, INDU, and PGLC managed to contribute positively, albeit marginally.

BROADER MARKET OVERVIEW

The All-Share index also faced a decline, shedding 1,226.28 points. Trading volume increased compared to the previous session, highlighting heightened activity amidst the market’s correction phase.

A GLIMMER OF HOPE: SAZGAR ENGINEERING WORKS LIMITED

In an otherwise gloomy market scenario, Sazgar Engineering Works Limited reported a significant surge in auto-rickshaw and 4-wheeler sales, indicating pockets of resilience and growth within specific sectors.

CONCLUSION: NAVIGATING THROUGH UNCERTAINTY

The KSE-100 index’s recent performance is a stark reminder of the intricate ties between political stability and economic prosperity. As Pakistan grapples with these challenges, the market’s resilience will be tested. Investors and stakeholders alike watch closely, hoping for stability and growth in the face of adversity.

PKR EXCHANGE RATES MONDAY, FEBRUARY 12

STABILITY IN THE DOMESTIC BULLION MARKET: GOLD AND SILVER PRICES HOLD STEADY

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