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Category: Pakistan Stock Exchange

  • PSX Extends Gains by 130 Points in Range-Bound Session

    Pakistan Stock Exchange (PSX) extended gains for the second straight day in a range-bound session on Tuesday, with the KSE-100 Index gaining 129.72 points (+0.28 percent) to close at 46,756.80 points.

    The market opened on a positive note and remained positive throughout the session. The indices maintained their upward momentum despite mixed economic indicators, as the Consumer Price Index-based inflation increased to 31.4 percent during the month of September 2023 on a year-on-year basis. The inflation had increased to 27.4 percent during August.

    On the other hand, the trade deficit improved to $1.49 billion in September against $2.16 billion in August, showing an improvement of 31.13 percent on a month-on-month basis. Meanwhile, the rupee’s continuous appreciation against the US dollar provided some confidence to investors in the market. The rupee closed September as the world’s best-performing currency, appreciating by 6.19 percent against the US dollar, its second-highest monthly gain since 2014.

    PSX, KSE-100 Index, WTL, CNERGY, OGDC, UNITY, PIBL, PHDL, JUCK, MCB, EFERT, AHL, FATIMA, UBL, OGDC, ENGRO, JDWS, UPFL, SAPL, CNERGY, UNITY

    The benchmark index traded in a range of 193.63 points, showing an intraday high of 46,820.71 points and an intraday low of 46,627.08 points, which was the previous close. Among other indices, the KSE All Share Index gained 55.28 points (+0.18 percent) to close at 31,428.21 points, while KMI All Share Islamic Index gained 37.80 points (+0.17 percent) to close at 22,892.75 points. Total volumes traded for the KSE-100 Index decreased by 5.18 million to 95.17 million shares against 100.35 million shares traded a session earlier. The overall market volumes increased by 10.59 million shares to 213.19 million shares against 202.60 million shares traded a session earlier.

    Among scrips, WTL topped the volumes with 60.70 million shares, followed by CNERGY (19 million), and OGDC (9.90 million). Stocks that contributed significantly to the volumes included WTL, CNERGY, OGDC, UNITY, and PIBL, which formed over 49 percent of total volumes.

    A total of 326 companies traded shares in the stock exchange against 328 a session earlier, out of which shares of 142 closed up, shares of 154 closed down while shares of 30 companies remained unchanged. A total of 95 companies traded shares in the KSE-100 Index against the same number of companies in the previous session, out of which share price of 48 companies closed up, 38 closed down and nine remained unchanged. The number of total trades increased by 3,417 to 99,862 from 96,445 a session earlier, while the value traded decreased by Rs1.31 billion to Rs6.09 against Rs7.40 billion in the previous session.

    In terms of rupee, JDWS remained the top gainer with an increase of Rs23.75 (+6.51 percent) per share, closing at Rs388.75. The runner-up remained PHDL, the share price of which climbed up by Rs20.72 (+7.5 percent) to Rs297.04. UPFL remained the top loser with a decrease of Rs70 (-0.34 percent) per share, closing at Rs20,480 followed by SAPL, the share price of which fell by Rs43 (-6.14 percent) to close at Rs657 per share.

    The major sectors taking the index towards north remained fertilizer (84 points), commercial banks (51 points), cement (18 points), power generation & distribution (11 points), and automobile assembler (6 points). The major companies adding points to the index remained ENGRO (43 points), EFERT (41 points), MCB (25 points), BAHL (18 points), and LUCK (11 points).

    The sectors taking the index towards south were oil & gas exploration companies (27 points), technology & communication (20 points), investment banks/ investment companies/ securities companies (8 points), automobile parts & accessories (7 points),and food & personal care products (3 points). The major companies depriving the index of points remained OGDC (15 points), SYS (11 points), DAWH (8 points), and FATIMA and UBL (7 points each).

  • Mixed trade likely at PSX this week

    Mixed trade likely at PSX this week

    KARACHI, (TLTP): After a rise of 1.59 percent by the benchmark index last week on the back of buyback of shares and the expected influx of funds from friendly countries and international creditors, mixed trade is likely at the Pakistan Stock Exchange (PSX) this week.

    The PSX remained positive last week amid rupee’s slight appreciation against the US dollar, depleting foreign exchange reserves, domestic political turbulence and economic uncertainty, with the benchmark KSE-100 Index gaining 661 points (+1.59 percent) to close at 42,242 points. Among other indices, the KSE All Share Index closed at 27,876.27 points and KMI All Share Islamic Index closed at 20,208.75 points, making decent gains on a weekly basis.

    The PSX closed in green in all the four sessions of the shortened week due to the Labour Day holiday on Monday. The bourse managed to close in green on Thursday despite massive profit-taking activity. Later on Friday, the market opened on a negative note and fell below the psychological level of 42,000 points. Though bulls brought the market back in the green, still the benchmark index failed to touch Thursday’s intraday high of 42,336.44 points. However, this negative bias can be countered with the fact that it was the last working day.

    On the positive side, the market may be green in the week ahead as the buyback of shares from companies is still underway. The announcement of the buyback of shares by LUCK and HBL’s sponsor further boosted the sentiment. The Aga Khan Fund for Economic Development (AKFED) intends to purchase HBL shares. This positive sentiment is likely to be reinforced by developments related to disbursement and commitment of funds from friendly countries and international creditors, which will help bridge the financing gap and bring the IMF programme back on track. Moreover, a 40 percent decrease in trade deficit on a year-on-year basis may keep the momentum bullish also this week.

    However, inflation that clocked in at 36.4 percent for the month of April on a year-on-year basis, fall in officials reserves of the country by $6 million on a week-on-week basis and political turmoil in the country may haunt the bourse. 

    Similarly, foreign selling continued last week, clocking in at $6.1 million compared to a net sell of $14.2 million last week. On the local front, buying was reported by individuals and NBFC. Foreign buying is desperately needed to keep the bourse green.

    According to a report of Arif Habib Limited, the benchmark KSE-100 index is currently trading at a PER of 3.9x (2023), which is lower than the Asia Pacific regional average of 12.2x. Additionally, the PSX offers a dividend yield of 11.5 percent, compared to 3.0 percent offered by the region, making it an attractive investment opportunity.

  • PSX ends flat amid profit-taking in volatile session

    PSX ends flat amid profit-taking in volatile session

    Pakistan Stock Exchange (PSX) managed to close in green after a volatile session on Thursday, with the benchmark KSE-100 Index gaining 5.87 points (+0.01 percent) to close at 42,093.80 points.
    The market opened on a sharp positive note and hit the day high during the first two-hour trading. The market remained in green for most of the day; however, profit-taking activity brought the market in the red during the last half-an-hour trading. Still, the market managed to recover and turned to positive again.
    The KSE-100 Index moved in a range of 280.54 points, showing an intraday high of 42,336.44 and a low of 42,055.90 points. Among other indices, the KSE All Share Index gained 55.74 points (+0.20 percent) to close at 27,825.39 points, while KMI All Share Islamic Index gained 101.94 points (+0.51 percent) to close at 20,151.91 points.
    A total of 372 companies traded shares in the stock exchange as compared to 380 a day earlier. Out of traded companies, shares of 169 closed up, shares of 181 closed down while shares of 22 companies remained unchanged. A total of 97 companies traded shares in the KSE-100 Index, out of which 49 closed up, 48 closed down.
    The overall market volumes remained 256.22 million against 287.75 million shares a day earlier. Total volumes traded for the KSE-100 Index remained 147.37 million against 135.52 million shares a day earlier. The number of total trades increased by 5,248 to 119,006, while the value traded decreased to Rs9.3 billion from Rs10.18 billion a day earlier. Overall market capitalisation increased by Rs11.91 billion.
    Among scrips, MLCF topped the volumes with 23.41 million shares, followed by FFL (17.09 million) and WTL (13.6 million). Stocks that contributed significantly to the volumes included MLCF, FFL,WTL, BAFL and BIPL, which formed around 29 percent of total volumes.
    In terms of rupee, RMPL remained the top gainer and witnessed an increase of Rs592.5 (+7.5 percent) per share, closing at Rs8,492.5. The runner-up remained NESTLE, the share price of which climbed up by Rs396.37 (+7.5 percent) to Rs5,681.38. KHYT remained the top loser in terms of rupee and witnessed a decrease of Rs59.62 (-7.5 percent) per share, closing at Rs735.38, followed by INDU, the share price of which fell by Rs54.65 (-5.81 percent) to close at Rs886.41 per share.
    Automobile, cement, chemical and oil spaces saw massive selling while banking space closed with gains. Sectors contributing positively to the benchmark KSE-100 index included technology and communication (51.18 points), banks (46.24 points) and food and personal care products (39.11 points). The most points added to the index were by EFERT (42 points), followed by SYS (41 points), NESTLE (25 points), BAHL (20 points), and PKGS (19 points).
    The sectors taking the index towards south were oil & gas exploration companies (64 points), automobile assembler (26 points), investment banks/ investment companies/ securities companies (19 points), tobacco (16 points), and oil & gas marketing companies (15 points). The most points taken off the index were by ENGRO (40 points), INDU (21 points), PPL and DAWH (18 points each) and OGDC (17 points).
    A report from Arif Habib Limited stated that the positive momentum continued at the PSX. “The KSE-100 index opened in green zone and continued to trade with positive sentiments throughout the trading session, reaching an intraday high of 248.41 points as investors opted to cherry pick strong fundamental stocks given the attractive valuation being offered in the market.”
    It added that rally was observed in cement and IT sectors although profit taking was witnessed during the last half of the day. Investor participation remained healthy as decent volumes were recorded across the board, the report said.

  • PSX sheds 350 more points on Moscow-Kiev crisis

    PSX sheds 350 more points on Moscow-Kiev crisis

    Following the global stock markets, the Pakistan Stock Exchange (PSX) tumbled on Tuesday amid Russia-Ukraine tension and the benchmark KSE-100 Index shed 350.7 points (-0.77 percent) to close at 45,012.18 points.

    The market shed over 300 points for the second consecutive day, as on Monday it lost 313 points. The market opened on a negative note and remained negative for the entire session. However, robust corporate results of some companies limited the downside movement of the index, while value hunting was observed in the last trading hour, which led to a recovery in the market. Heightened geopolitical risks combined with rising rampant inflationary concerns have added to the pressure on stock in recent weeks.

    The KSE-100 Index moved in a range of 664.4 points, showing an intraday high of 45,362.85 points and a low of 44,698.45 points. Among other indices, the KSE All Share Index shed 203.1 points (-0.65 percent) to close at 30,845.36 points, while KMI All Share Islamic Index shed 144.3 points (-0.64 percent) to close at 22,281.21 points.

    A total of 353 companies traded shares in the stock exchange, out of them shares of 80 closed up, shares of 260 closed down while shares of 13 companies remained unchanged. Out of 94 traded companies in the KSE-100 Index, 22 closed up, 68 closed down and four remained unchanged.

    The overall market volumes increased by 89.51 million to 227.17 million shares. Total volumes traded for the KSE-100 Index increased by 50.04 million to 112.20 million shares. The number of total trades increased by 45,264 to 112,624, while the value traded increased by Rs4.01 billion to Rs7.63 billion. Overall, market capitalisation decreased by Rs50.65 billion.

    Among scrips, WTL topped the volumes with 23.69 million shares, followed by BOP (14.41 million) and TELE (12.9 million). Stocks that contributed significantly to the volumes included WTL, BOP, TELE, TRG and TPLP, which formed around 31 percent of total volumes.

    In terms of rupee, RMPL remained the top gainer and witnessed an increase of Rs336.47 (3.41 percent) per share, closing at Rs10,199.45, whereas the runner-up was MARI, the share price of which climbed up by Rs28.82 (1.67 percent) to Rs1,757.3. PAKT remained the top loser in terms of rupee and witnessed a decrease of Rs32.24 (3.1 percent) per share, closing at Rs1,008.01, followed by SAPL, the share price of which declined by Rs26.49 (3.06 percent) to close at Rs838.51 per share.

    The sectors taking the index towards south were technology & communication with 124 points, cement (54 points), fertilizer (41 points), power generation & distribution (38 points) and oil & gas marketing companies (21 points). The most points taken off the index were by TRG which stripped the index of 82 points followed by LUCK (31 points), SYS (28 points), ENGRO (23 points) and KAPCO (20 points).

    The sectors taking the index towards north were automobile assembler with 18 points, commercial banks (10 points), oil & gas exploration companies (5 points), real estate investment trust (3 points) and chemical (2 points). The most points added to the index were by MARI which contributed 19 points followed by MTL (18 points), MEBL (15 points), UBL (14 points) and POL (9 points).

  • PSX gains 128 points to cross 45,000 level

    PSX gains 128 points to cross 45,000 level

    The Pakistan Stock Exchange (PSX) witnessed a second back-to-back positive but low-volume session on Thursday, with the benchmark KSE-100 Index gaining 127.99 points (+0.28 percent) to close at 45,083.04 points.

    The market opened on a positive note and remained in the green territory throughout the session. However, the market remained dull with regard to volumes as well as the number of companies whose share prices suffered in the KSE All Index remained higher than the companies whose share prices made gains, despite an overall positive session.

    According to experts, the market remained positive as cut-off yields in the treasury-bill auction significantly declined which were in accordance with the latest monetary policy announcement. The sentiment was further fuelled as the State Bank of Pakistan is confident over the revival of the $6 billion extended fund facility of the International Monetary Fund.

    The KSE-100 Index moved in a range of 224.8 points, showing an intraday high of 45,179.8 points and a low of 44,955 points, which was the last day’s closing point. Among other indices, the KSE All Share Index shed 32.7 points (-0.11 percent) to close at 30,760.87 points, while KMI All Share Islamic Index gained 56.78 points (+0.26 percent) to close at 22,254.5 points.

    A total of 343 companies traded shares in the PSX, out of them shares of 137 closed up, shares of 176 closed down while shares of 30 companies remained unchanged. Out of 96 traded companies in the KSE-100 Index, 47 closed up, 43 closed down and six remained unchanged.

    The overall market volumes increased by 36.28 million to 173.59 million shares. Total volumes traded for the KSE-100 Index increased by 22.92 million to 89.84 million shares. The number of total trades decreased by 1,877 to 81,861, while the value traded increased by Rs1.21 billion to Rs6.57 billion. Overall, market capitalisation decreased by Rs6.63 billion.

    Among scrips, TRG topped the volumes with 19.12 million shares, followed by HUMNL (15.24 million) and UNITY (11.71 million). Stocks that contributed significantly to the volumes included TRG, HUMNL, UNITY, WTL and CNERGY, which formed around 37 percent of total volumes.

    In terms of rupee, PSEL remained the top gainer and witnessed an increase of Rs41 per share, closing at Rs1,650 whereas the runner-up was ARPL, the share price of which climbed up by Rs36.17 to Rs586.17. COLG remained the top loser in terms of rupee and witnessed a decrease of Rs66 per share, closing at Rs2,400, followed by PAKT, the share price of which declined by Rs51.89 to close at Rs1058.11 per share.

    The sectors taking the index towards north were technology & communication with 63 points, power generation & distribution (28 points), commercial banks (22 points), miscellaneous (21 points) and oil & gas exploration companies (17 points). The most points added to the index were by TRG which contributed 61 points followed by HUBC (23 points), PSEL (21 points), MARI (19 points) and ABL (17 points).

    The sectors taking the index towards south were tobacco with 16 points, investment banks/ investment companies/ securities companies (12 points), automobile assembler (10 points), fertilizer (6 points) and engineering (4 points). The most points taken off the index were by PAKT which stripped the index of 16 points, followed by FFBL (13 points), COLG (12 points), DAWH (10 points) and PPL (6 points).

  • PSX snaps seven-session winning streak with 325 points fall

    PSX snaps seven-session winning streak with 325 points fall

    The Pakistan Stock Exchange (PSX) turned bearish on Thursday after seven consecutive positive sessions, with the benchmark KSE-100 Index shedding 325.59 points (-0.72 percent) to close at 45,082.3 points.

    The market opened on a negative note and remained bearish throughout the session. The market followed the trend of global markets, which turned bearish after the minutes of the December 14-15 Federal Open Market Committee (FOMC) meeting, released on Wednesday, said that most participants judged conditions for a rate hike could be met soon if the recent pace of labour market improvements continued.

    According to the US FOMC minutes: “Participants remarked that a quicker conclusion of net asset purchases would better position the committee to set policy to address the full range of plausible economic outcomes…participants remarked that the committee should continue to be prepared to adjust the pace of purchases if warranted by changes in the economic outlook.”

    The KSE-100 Index moved in a range of 386.57 points, showing an intraday low of 45,021.32 points and a high of 45,407.89 points, the last day closing point. Among other indices, the KSE All Share Index shed 240.17 points (-0.77 percent) to close at 30,875.94 points, while KMI All Share Islamic Index shed 225.98 points (-1.01 percent) to close at 22,208.16 points.

    A total of 370 companies traded shares in the stock exchange, out of them shares of 90 closed up, shares of 263 closed down while shares of 17 companies remained unchanged. Out of 95 traded companies in the KSE-100 Index, 20 closed up, 74 closed down and one remained unchanged.

    The overall market volumes decreased by 86.77 million to 345.30 million shares. Total volumes traded for the KSE-100 Index increased by 36.28 million to 133.04 million shares. The number of total trades decreased by 12,693 to 125,826, while the value traded increased by Rs2.95 billion to Rs13.24 billion. Overall market capitalisation decreased by Rs60.11 billion.

    Among scrips, WTL topped the volumes with 65.11 million shares, followed by TRG (54.82 million) and UNITYR3 (30.2 million). Stocks that contributed significantly to the volumes included WTL, TRG, UNITYR3, TELE, and YOUW, which formed over 51 percent of total volumes.

    The major sectors taking the index toward south were technology & communication with 116 points, cement with 78 points, oil & gas marketing companies with 27 points, food & personal care products with 23 points and commercial banks with 22 points. The most points taken off the index were by TRG which stripped the index of 104 points followed by PSO with 22 points, HBL with 16 points, LUCK with 15 points and OGDC with 15 points.

    The major sectors taking the index towards north were power generation & distribution with 54 points, investment banks/ investment companies/ securities companies with 8 points, fertilizer with 8 points, and textile weaving and close-end mutual funds with one point each. The most points added to the index were by HUBC which contributed 56 points followed by POL with 19 points, DAWH with 17 points, EFERT with 16 points and UBL with 10 points.

  • PSX sheds 635 points as T-bills target missed, yields not eased

    PSX sheds 635 points as T-bills target missed, yields not eased

    The Pakistan Stock Exchange (PSX) turned bearish on Thursday, with the benchmark KSE-100 Index shedding 635.66 points (-1.43 percent) to close at 43,731.2 points.

    The market switched between the green and red territories for the first 10 minutes and then remained on the losing streak throughout the session, eroding over half of the previous day’s gains.

    The KSE-100 Index moved in a range of 784.74 points, showing an intraday high of 44,392.54 points and a low of 43,607.80 points. Among other indices, the KSE All Share Index shed 440.81 points (-1.45 percent) to close at 29,949.21 points, while KMI All Share Islamic Index shed 382.93 points (-1.74 percent) to close at 21,598.47 points.

    A total of 356 companies traded shares in the stock exchange, out of them shares of 92 closed up, shares of 253 closed down while shares of 11 companies remained unchanged. Out of 92 traded companies in the KSE-100 Index, 16 closed up and 76 closed down.

    The overall market volumes decreased by 86.02 million to 312.07 million shares. Total volumes traded for the KSE-100 Index decreased by 54.2 million shares to 124.15 million shares. The number of total trades decreased by 12,711 to 129,248, while the value traded increased by Rs1.53 billion to Rs10.12 billion.

    Among scrips, WTL topped the volumes with 49.187 million shares, followed by TELE (30.93 million) and BYCO (18.97 million). Stocks that contributed significantly to the volumes include WTL, TELE, BYCO, TRG, and UNITY, which formed around 42 percent of total volumes.

    According to experts, the bourse tumbled as the less-than-expected interest rate hike and the central bank’s forward guidance were disregarded by the market after the T-Bills target was missed and yields didn’t ease. The State Bank of Pakistan (SBP) raised Rs1,285 billion against the target of Rs1,400 billion at an auction held on Wednesday evening. The cutoff yields on three-month, six-month and 12-month remained unchanged at 10.79 percent, 11.5 percent and 11.51 percent, respectively.

    An analyst at Topline Securities said the profit-taking continued following the T-Bills auction where yields remained flat contrary to the investors’ expectations. “The investors were expecting a cut; following a fall in the secondary market yields by 25bps on Tuesday.”

    Arif Habib Corporation said that the stocks closed lower in the overbought market on the concerns over the SBP’s policy tightening and foreign outflows. Likely announcements of a mini-budget for the resumption of the International Monetary Fund programe and reports of the UK court imposing over Rs19.4 billion fine on Sui Northern Gas Pipelines Limited (SNGPL) played a catalytic role in the bearish close.

  • PSX snaps losing streak with 178 points gain

    PSX snaps losing streak with 178 points gain

    The Pakistan Stock Exchange (PSX) snapped the four-day losing streak on Friday, with the benchmark KSE-100 Index gaining 178.41 points (+0.4 percent) to close at 44,114.16 points.

    Overall, the market shed 2,375.25 points during the rollover week, mainly due to lack of triggers, concerns over continuous foreign selling amid Pakistan’s reclassification from MSCI emerging markets to frontier markets index due next week, and upcoming mini-budget.

    The market opened on a positive note and remained positive for the next two hours when the profit-taking activity gripped the market. However, the index turned again towards north during the last one hour trading, closing the session on a positive note above the psychological level of 44,000 points.

    The KSE-100 Index moved in a range of 578 points, showing an intraday high of 44,333.71 points and a low of 43,735.71 points. Among other indices, the KSE All Share Index gained 53 points (+0.17 percent) to close at 30,302.34 points, while KMI All Share Islamic gained 35.32 points (+0.16 percent) to close at 21,509.37 points.

    A total of 353 companies traded shares in the stock exchange, out of them shares of 178 closed up, shares of 156 closed down while shares of19 companies remained unchanged. Out of 90 traded companies in the KSE-100 Index, 45 closed up, 43 closed down and two remained unchanged.

    The overall market volumes increased by 94.15 million to 289.68 million shares. Total volumes traded for the KSE-100 Index increased by 19.63 million shares to 116.97 million shares. The number of total trades increased by 22,996 to 113,249, while the value traded increased by Rs1.88 billion to Rs10.27 billion.

    Among scrips, WTL topped the volumes with 34.18 million shares, followed by TPLP (17.21 million) and BYCO (15.03 million). Stocks that contributed significantly to the volumes include WTL, TPLP, BYCO, HUMNL, and MODAMR, which formed around 32 percent of total volumes.

    The major sectors taking the index towards north were cement with 513 points, automobile assemblers with 290 points, cable and electrical goods with 229 points, fertilizers and technology with 159 points each, and commercial banks with 100 points. The major sectors taking the index toward south were food & personal care products with 436 points, textile with 404 points, oil and gas exploration with 139 points, and investment banks/ investment companies/ securities companies with 99 points.

    According to experts, the market remained volatile throughout the session. They said that decrease in crude oil prices is good for the Pakistani market; however, resurgence of Covid-19 cases in different parts of the world is a worrying factor. They hoped that the market may recover in the next week as pressures of rollover week are over, while rebalancing the PSX to the status of frontier market from the emerging market nears. They were hopeful that the market will bounce back once December starts when MSCI rebalancing will take effect.

    They said that the end of the strike by the petroleum dealers was a positive sign for the market. They said that the announcement by Information Minister Fawad Chaudhary that all legal formalities have been settled in the transfer of $3 billion from Saudi Arabia and the government will receive a deposit of said amount in the next week, also provided the market a positive trigger. These inflows are likely to ease off some of the pressure on the rupee, which will ultimately help stabilise the local currency.

  • PSX continues extending losses, falls below 44,000 points level

    PSX continues extending losses, falls below 44,000 points level

    The Pakistan Stock Exchange (PSX) plunged for the fourth day in a row on Thursday, with the benchmark KSE-100 Index shedding another 427.95 points (-0.96 percent) to close at 43,935.75 points.

    Overall, the market shed 2,553.66 points during the last four sessions, mainly due to lack of triggers, rollover week, concerns over continuous foreign selling amid Pakistan’s reclassification from MSCI emerging markets to frontier markets index due next week, and upcoming mini-budget.

    The market opened on a positive note but soon turned towards south and remained negative for the whole session. The KSE-100 Index moved in a range of 781.2 points, showing an intraday high of 44,516.8 points and a low of 43,735.6 points. Among other indices, the KSE All Share Index shed 213.48 points (-0.7 percent) to close at 30,249.34 points, while All Share Islamic Index shed 176.22 points (-0.81 percent) to close at 21,474.05 points.

    A total of 341 companies traded shares in the stock exchange, out of them shares of 129 closed up, shares of 190 closed down while shares of 22 companies remained unchanged. Out of 92 traded companies in the KSE-100 Index, 28 closed up, 62 closed down and two remained unchanged.

    The overall market volumes decreased by 115.21 million to 195.17 million shares. Total volumes traded for the KSE-100 Index decreased by 42.79 million shares to 97.34 million shares. The number of total trades decreased by 43,991 to 90,253, while the value traded decreased by Rs4.55 billion to Rs8.39 billion. Overall market capitalisation decreased by Rs53.45 billion.

    Among scrips, TPLP topped the volumes with 16.33 million shares, followed by BYCO (12.23 million) and HUBC (9.5 million). Stocks that contributed significantly to the volumes include TPLP, BYCO, HUBC, WTL, and TRG, which formed around 28 percent of total volumes.

    The sectors taking the index towards south were commercial banks with 139 points, power generation & distribution with 59 points, fertilizer with 50 points, cement with 48 points and pharmaceuticals with 43 points. The most points taken off the index were by HUBC which stripped the index of 53 points followed by HBL with 46 points, LUCK with 30 points, UBL with 29 points and SEARL with 25 points.

    The sectors taking the index toward north were refinery with 10 points, glass & ceramics with 7 points, automobile assembler with 6 points, food & personal care products with 3 points and real estate investment trust with 2 points. The most points added to the index were by GHGL which contributed 7 points followed by SYS with 5 points, NRL with 5 points, BYCO with 5 points and MTL with 4 points.

    According to experts, the market witnessed a low-volume session and the last hour trading formed around 30 percent of the volumes. They said that the market is likely to remain under pressure for the rest of the month on account of ongoing rollover week as well as rebalancing of the PSX to the status of frontier market from the emerging market. However, they were hopeful that the market will bounce back once December starts when MSCI rebalancing will take effect.

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