On Thursday, Pakistan’s stock market experienced a continued decline as traders recalibrated their strategies following the central bank’s decision to maintain interest rates at a record level for the seventh consecutive meeting.
The benchmark KSE-100 index closed the trading session at 70,657.64, marking a decrease of 444.91 points or 0.63%. Throughout the day, the index fluctuated within a range of 730.71 points, reaching an intraday high of 71,292.83 and a low of 70,562.12 points. The total volume of the KSE-100 index amounted to 225.62 million shares.
Stock Data Current Value 70,657.64 Change -444.90 (-0.63%) As of May 2, 2024 4:15 PM High 71,292.83 Low 70,562.12 Volume 225,619,410 1-Year Change 68.52% YTD Change 9.27% Previous Close 71,102.54 Day Range 70,562.12 — 71,292.83 52-Week Range 39,894.43 — 73,300.75
Among the 100 index companies, 30 closed higher, 63 closed lower, while 6 remained unchanged, with 1 remaining untraded.
The decline in the KSE-100 index was primarily driven by sectors such as Fertilizer, Technology & Communication, Commercial Banks, Pharmaceuticals, and Refinery. Conversely, sectors such as Textile Composite, Cement, Power Generation & Distribution, Cable & Electrical Goods, and Investment Banks/Companies/Securities Companies provided some support to the index.
Key contributors to the index’s decline included companies like TRG, EFERT, FFC, ENGRO, and SYS, while companies like BAFL, PPL, ILP, HUBC, and FCCL added points to the index.
In the broader market, the All-Share index closed with a net loss of 403.92 points, settling at 46,150.31. The total market volume decreased to 436.99 million shares, with a traded value of Rs19.02 billion.
Notable trading volumes were observed in companies such as KEL, WTL, BOP, PIAA, FABL, PAEL, AIRLINK, TOMCL, NBP, and LOADS.
For the fiscal year, the KSE-100 index has witnessed a substantial gain of 29,205 points or 70.45%, while the ongoing calendar year has seen an increase of 8,207 points, equivalent to 13.14%.
