AGL 38.83 Decreased By ▼ -0.06 (-0.15%)
AIRLINK 143.40 Decreased By ▼ -2.00 (-1.38%)
BOP 5.24 Increased By ▲ 0.04 (0.77%)
CNERGY 3.72 Decreased By ▼ -0.06 (-1.59%)
DCL 7.58 Decreased By ▼ -0.09 (-1.17%)
DFML 46.40 Increased By ▲ 1.22 (2.7%)
DGKC 80.88 Increased By ▲ 1.75 (2.21%)
FCCL 27.42 Decreased By ▼ -0.58 (-2.07%)
FFBL 55.00 Increased By ▲ 1.67 (3.13%)
FFL 8.56 Decreased By ▼ -0.09 (-1.04%)
HUBC 111.02 Decreased By ▼ -10.80 (-8.87%)
HUMNL 11.42 Increased By ▲ 0.46 (4.2%)
KEL 3.77 Increased By ▲ 0.02 (0.53%)
KOSM 8.33 Increased By ▲ 0.01 (0.12%)
MLCF 35.20 Increased By ▲ 0.44 (1.27%)
NBP 61.35 Increased By ▲ 2.10 (3.54%)
OGDC 171.90 Increased By ▲ 2.68 (1.58%)
PAEL 25.78 Increased By ▲ 0.18 (0.7%)
PIBTL 5.97 Decreased By ▼ -0.02 (-0.33%)
PPL 127.55 Increased By ▲ 0.05 (0.04%)
PRL 25.58 Increased By ▲ 0.70 (2.81%)
PTC 12.15 Increased By ▲ 0.21 (1.76%)
SEARL 57.00 Increased By ▲ 1.47 (2.65%)
TELE 7.10 Increased By ▲ 0.03 (0.42%)
TOMCL 34.80 Decreased By ▼ -0.35 (-1%)
TPLP 6.95 Decreased By ▼ -0.05 (-0.71%)
TREET 13.85 Decreased By ▼ -0.04 (-0.29%)
TRG 47.05 Increased By ▲ 1.23 (2.68%)
UNITY 26.05 Decreased By ▼ -0.14 (-0.53%)
WTL 1.21 No Change ▼ 0.00 (0%)
BR100 9,094 Increased By 113.3 (1.26%)
BR30 27,318 Decreased By -101.9 (-0.37%)
KSE100 85,664 Increased By 753.7 (0.89%)
KSE30 27,441 Increased By 243.7 (0.9%)

The Pakistan Stock Exchange (PSX) on Wednesday ended lower by 635 points as investors resorted to profit-taking ahead of the upcoming monetary policy meeting.

The KSE-100 started the session positive, hitting an intra-day high of 79,507.18.

However, like most recent sessions, profit-taking in the latter hours pushed the index into the negative territory.

At close, the benchmark index settled at 78,651.80, down by 634.94 points or 0.80%.

Investors chose to do profit-taking in selective stocks of E&P, banking, and fertiliser sectors, brokerage house Topline Securities said in its post-market report.

Resultantly, MARI, BAHL, MCB, MEBL & EFERT lost 315 points, cumulatively. On the flip side, OGDC, DAWH & PAEL collectively added 54 points as they witnessed some buying interest in them, it added.

On Tuesday, however, the PSX had witnessed a bullish session, fuelled by late-session buying that lifted the benchmark KSE-100 Index by 672 points amid hopes of a policy rate cut in the monetary policy meeting scheduled for Thursday, September 12.

Fauji Fertilizer Company (FFC), one of Pakistan’s largest fertilizer producers, expressed its intention to acquire shares and control of Agritech Limited.

The development was announced by Agritech Limited, engaged in the production and sale of urea and granulated single super phosphate fertiliser, in a notice to the PSX on Wednesday.

Globally, major stock markets and the dollar diverged on Wednesday before US inflation data that could help indicate the size of an expected interest-rate cut from the Federal Reserve next week.

In Europe, London’s share-price gains were capped in midday deals by official data showing Britain’s economy stalled in July.

Paris and Frankfurt grew by bigger amounts as investors in the eurozone geared up for the European Central Bank’s interest-rate decision Thursday.

Asia’s main equity indices closed lower with a strong yen weighing on Tokyo’s market, while Chinese stocks were knocked by concerns over China’s struggling economy, analysts said.

The US consumer price index later in the day will be pored over for an insight into the Fed’s rate decision on September 18 and what it could mean for the global economy.

Meanwhile, the Pakistani rupee registered a marginal improvement against the US dollar, appreciating 0.03% in the inter-bank market on Wednesday. At close, the currency settled at 278.54, a gain of Re0.08 against the US dollar.

Volume on the all-share index increased to 532.73 million from 509.49 million on Tuesday.

The value of shares rose to Rs14.73 billion from Rs13.76 billion in the previous session.

WorldCall Telecom was the volume leader with 80.93 million shares, followed by Pak Elektron with 42.59 million shares, and Waves Home App with 34.02 million shares.

Shares of 439 companies were traded on Wednesday, of which 178 registered an increase, 206 recorded a fall, while 55 remained unchanged.

Comments

200 characters
KU Sep 11, 2024 09:00pm
A shout-out, after the wheat-price heist few months ago, farmers are again being robbed n plundered by agents/middlemen for their rice crops @Rs.1400 per 40 kg, n exporters will sell it in $billions.
thumb_up Recommended (0) reply Reply
misbah Sep 12, 2024 12:14am
wtl is not responding from last year.. tell reason why???
thumb_up Recommended (0) reply Reply
S. Israr Ali Sep 12, 2024 05:14am
The Government is increasing salaries by 22% of it's employees from 1.7. 2024 while economy in bad shape. Thus admitted inflation 22%. The Monetary Policy should fix key interest rate at 22% atleast.
thumb_up Recommended (0) reply Reply