The benchmark KSE-100 index concluded the trading session on a slightly bearish note, recording a downturn of 225.68 points, which translates to a 0.34% decrease, settling at 65,726.04. The trading day was marked by fluctuations within a range of 634.78 points, touching an intraday high of 66,134.85 and bottoming out at 65,500.07. A Day earlier!

In Tuesday’s interbank trading, the value of the Pakistani rupee (PKR) also fell by 5.05 paisa versus the US dollar, finishing at PKR 279.31 per USD, down from PKR 279.26 per USD at the end of the previous session.

Pakistan Stock Market Closing Summary – March 5, 2024
MetricValue
Closing Value65,726.04
Change-225.68 (-0.34%)
High66,134.84
Low65,500.06
Volume185,731,440
1-Year Change58.63%
YTD Change1.65%
Previous Close65,951.72
Day Range65,500.06 — 66,134.84
52-Week Range39,482.17 — 67,093.96

The session saw a total trade volume of 185.731 million shares across the KSE-100 index. Out of the 100 companies indexed, 37 experienced gains, 61 saw declines, 1 remained unchanged, and 1 did not see any trading activity.

SECTORIAL INFLUENCES ON THE INDEX

Notably, the index’s downward trajectory was influenced by specific sectors. Oil & Gas Exploration Companies and Oil & Gas Marketing Companies led the decline with 199.64 and 47.25 points, respectively. This was further exacerbated by losses in Power Generation & Distribution, Food & Personal Care Products, and Pharmaceuticals sectors.

Conversely, the index found support from Inv. Banks / Inv. Cos. / Securities Cos., Refinery, Technology & Communication, Commercial Banks, and Cement sectors, contributing positively to the index’s performance.

KSE100 MARKET SUMMARY SECTORS 2024-03-05 at 5.41.31 PM

Key players impacting the index included OGDC and PPL, leading the detractors by shedding 82.86 and 64.91 points off the index. MARI, PSO, and MTL also contributed to the downward movement. On the flip side, DAWH, ATRL, TRG, UBL, and PIOC were top contributors, adding valuable points to the index and providing some resistance to the overall decline.

KSE100 MARKET SUMMARY COMPANIES 2024-03-05 at 5.41.03 PM

BROADER MARKET PERSPECTIVE

Expanding the lens to the All-Share index, there was a net loss of 265.39 points, closing at 43,423.67. The session observed an increase in total market volume to 396.598 million shares from the previous session’s 344.227 million, with traded value also rising to Rs16.59 billion.

The broader market saw activity in 350 companies, with 134 advancing, 202 declining, and 14 remaining unchanged, highlighting a mixed sentiment across different sectors.

Recent performance data shared on indicates that the KSE 100 has experienced significant gains over various periods, including a 43.26% increase over the past six months and a 58.92% rise over the past year, pointing towards a strong bullish trend in the longer term. Despite a slight decline of 0.34% today, the 5-day and 1-month performance remain positive at 3.99% and 5.05%, respectively, reinforcing the bullish sentiment observed in the technical analysis​. Although caution is advised until the index breaks its resistance once and for all.

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