PSX sheds 350 more points on Moscow-Kiev crisis

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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).

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