Pakistan’s stock market PSX plunged after hitting a record high in the previous session, with index-heavy sectors finishing in the red. The KSE-100 Index fell 1,721.97 points or 2.1% to 80,119.09 on Friday, posting its biggest fall since February 12 when an unresolved election outcome spooked the market.
MARKET HIGHLIGHTS
The index traded in a range of 2,127.14 points, showing an intraday high of 81,939.83 (+99.97) and a low of 79,812.69 (-2,027.17) points. The total volume of the KSE-100 Index was 246.33 million shares. Of the 100 index companies, 18 closed up, 81 closed down, while 1 remained unchanged.
TOP LOSERS AND GAINERS
Top losers during the day were INIL (-8.89%), GADT (-8.08%), PAEL (-7.92%), TRG (-5.77%), and PTC (-5.62%). On the other hand, top gainers were PGLC (+9.06%), EFUG (+5.30%), SNGP (+3.63%), JVDC (+2.72%), and THALL (+2.62%).
INDEX POINT CONTRIBUTIONS
Companies that dragged the index lower were HUBC (-218.62pts), FFC (-183.82pts), HBL (-119.60pts), PPL (-104.04pts), and UBL (-90.98pts). Meanwhile, companies that added points to the index were SNGP (+22.58pts), THALL (+13.86pts), MARI (+13.01pts), HINOON (+9.42pts), and EFUG (+8.66pts).
SECTOR PERFORMANCE
Sector-wise, the KSE-100 Index was let down by Commercial Banks (-446.62pts), Fertilizer (-289.81pts), Power Generation & Distribution (-275.22pts), Technology & Communication (-152.48pts), and Oil & Gas Exploration Companies (-145.71pts). The index was supported by Automobile Parts & Accessories (+13.86pts), Insurance (+9.31pts), Property (+4.35pts), Real Estate Investment Trust (+3.87pts), and Sugar & Allied Industries (+0.64pts).
BROADER MARKET
In the broader market, the All-Share Index closed at 50,854.42 with a net loss of 918.86 points or 1.77%. Total market volume was 479.00 million shares compared to 470.31 million from the previous session, while traded value was recorded at Rs27.85 billion, showing an increase of Rs2.50 billion. There were 299,927 trades reported in 446 companies with 91 closing up, 305 closing down, and 50 remaining unchanged.
TOP TEN BY VOLUME PSX STOCKS
- WAVESAPP: The price was Rs. 10.07, with a change of 0.30%. The total volume was 36,876,803 shares.
- FFBL: The price was Rs. 41.03, with a decrease of 2.36%. The total volume was 30,672,200 shares.
- PAEL: The price was Rs. 26.38, with a decrease of 7.92%. The total volume was 24,821,611 shares.
- WTL: The price was Rs. 1.18, with a decrease of 2.48%. The total volume was 20,066,568 shares.
- AVN: The price was Rs. 65.43, with a decrease of 2.58%. The total volume was 18,981,342 shares.
- SNGP: The price was Rs. 71.29, with an increase of 3.63%. The total volume was 17,001,597 shares.
- KEL: The price was Rs. 4.53, with a decrease of 4.63%. The total volume was 16,764,175 shares.
- HUBC: The price was Rs. 155.48, with a decrease of 4.37%. The total volume was 16,720,522 shares.
- PIAHCLA: The price was Rs. 18.59, with a decrease of 3.43%. The total volume was 15,573,483 shares.
- AIRLINK: The price was Rs. 104.43, with a decrease of 6.17%. The total volume was 13,799,108 shares.
YEARLY PERFORMANCE
The KSE-100 has gained 1,673 points or 2.13% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 17,667 points, equivalent to 28.29%.
MARKET FRONT
The Real Effective Exchange Rate Index (REER) for the Pakistan Rupee dropped from its revised value of 100.69 in May 2024 to a preliminary value of 100.11 in June 2024, a 0.57% MoM fall. The REER index has risen 14.12% YoY from June 2023 to the present, according to data released by the State Bank of Pakistan (SBP).
On Thursday, the Pakistani stock market, or PSX, continued its upward trend. The benchmark KSE-100 Index increased by 684.26 points, or 0.84%, to hit a new high of 81,839.86. With an intraday high of 81,909.94 (+754.34) and a low of 81,418.11 (+262.51) points, the index showed strong performance throughout the day.
Gold per tola decreased by Rs.3,000 and was sold at Rs.251,000 on Friday against its sale at Rs.254,000 on last trading day.
The Pakistani rupee (PKR) appreciated by 4.46 paisa against the US dollar in Friday’s interbank session, settling the trade at PKR 278.13 per USD in the interbank session on Friday.
How to invest in Pakistan stock market: The primary requirement to start this journey is PKR 5,000, which serves as the first deposit to open your account with the Pakistan Stock Exchange (PSX). To start the process of opening an account on the Pakistan Stock Market (PSX), you must collaborate with a licensed broker, as mandated by the Securities and Exchange Commission of Pakistan (SECP).
LEARN TO SAFELY INVEST IN PAKISTAN & TAKE CHARGE OF YOUR OWN MONEY
A modest sum of PKR 5,000 serves as the initial deposit to open your account with the Pakistan Stock Exchange (PSX), and is the main requirement to start this journey. Opening an account on the Pakistan Stock Market (PSX) requires you to engage with a licensed broker, according to the Securities and Exchange Commission of Pakistan (SECP).
