AGL 22.90 Decreased By ▼ -1.83 (-7.4%)
AIRLINK 103.99 Decreased By ▼ -7.11 (-6.4%)
BOP 5.36 Decreased By ▼ -0.18 (-3.25%)
CNERGY 3.86 Decreased By ▼ -0.04 (-1.03%)
DCL 8.02 Decreased By ▼ -0.43 (-5.09%)
DFML 39.10 Decreased By ▼ -3.15 (-7.46%)
DGKC 86.95 Decreased By ▼ -2.65 (-2.96%)
FCCL 22.70 Decreased By ▼ -0.20 (-0.87%)
FFBL 40.59 Decreased By ▼ -1.39 (-3.31%)
FFL 8.89 Decreased By ▼ -0.15 (-1.66%)
HUBC 153.50 Decreased By ▼ -8.70 (-5.36%)
HUMNL 10.65 Decreased By ▼ -0.70 (-6.17%)
KEL 4.55 Decreased By ▼ -0.23 (-4.81%)
KOSM 3.90 Decreased By ▼ -0.16 (-3.94%)
MLCF 37.50 Decreased By ▼ -1.45 (-3.72%)
NBP 49.00 Decreased By ▼ -1.60 (-3.16%)
OGDC 134.15 Decreased By ▼ -2.96 (-2.16%)
PAEL 26.15 Decreased By ▼ -2.40 (-8.41%)
PIBTL 6.07 Decreased By ▼ -0.18 (-2.88%)
PPL 116.79 Decreased By ▼ -6.01 (-4.89%)
PRL 23.55 Decreased By ▼ -0.75 (-3.09%)
PTC 12.90 Decreased By ▼ -0.84 (-6.11%)
SEARL 57.25 Decreased By ▼ -2.80 (-4.66%)
TELE 7.45 Decreased By ▼ -0.31 (-3.99%)
TOMCL 35.74 Decreased By ▼ -3.66 (-9.29%)
TPLP 8.50 Decreased By ▼ -0.26 (-2.97%)
TREET 15.68 Decreased By ▼ -0.52 (-3.21%)
TRG 56.40 Decreased By ▼ -3.60 (-6%)
UNITY 33.40 Decreased By ▼ -1.00 (-2.91%)
WTL 1.18 Decreased By ▼ -0.04 (-3.28%)
BR100 8,433 Decreased By -274.3 (-3.15%)
BR30 26,639 Decreased By -1159 (-4.17%)
KSE100 80,118 Decreased By -1722 (-2.1%)
KSE30 25,681 Decreased By -584.1 (-2.22%)

The Pakistan Stock Exchange (PSX) came under the grip of profit booking on Wednesday and the KSE-100 offloaded 0.41% owing to rise in political noise.

Expectation of further political deterioration kept market participants at the bay. In addition, rumours that Pakistan will stall the current International Monetary Fund (IMF) programme dented sentiment.

At close, the KSE-100 Index was down 172.59 points or 0.41% to settle at 41,833.66.

Political clarity bolsters PSX, KSE-100 rises 0.69%

Following a mixed open, the market oscillated between red and green zones in early hours. Profit booking accelerated in final hours and made the market close with a loss.

Automobile, cement, chemical, banking and oil sectors saw massive selling while fertiliser space ended with a gain.

A report from Arif Habib Limited stated that the session on the KSE-100 was range bound.

“The market began in the green but swung both ways as political noise flared up as well as recent developments on the IMF program, with the index closing in the negative as investors chose to book profits during the final trading hour,” it said. “Volumes remained strong across the board, with third-tier equities dominating the volume board.”

A report from Capital Stake cited that bulls lost their hold over the PSX on Wednesday.

“Indices traded in both zones while volumes fell from last close,” it said.

On the economic front, Pakistan reported a current account surplus of $18 million in April 2023 as compared to a deficit of $640 million in same period last year.

Sectors dragging the benchmark KSE-100 index downwards included oil and gas exploration (98.63 points), investment banking (35.46 points) and technology and communication (34.11 points).

Volume on the all-share index plunged to 125.5 million from 196.2 million on Tuesday, while the value of shares traded dropped to Rs3.5 billion from Rs5.77 billion recorded in the previous session.

WorldCall Telecom was the volume leader with 18.4 million shares followed by Fauji Foods with 8.5 million shares and Hum Network with 6.1 million shares.

Shares of 319 companies were traded on Wednesday, of which 117 registered an increase, 179 recorded a fall and 23 remained unchanged.

Comments

Comments are closed.