PSX Closing Bell: Unintended Consequences

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March 7, 2022 (MLN): Following selling pressure in global markets from rising commodity prices, especially oil, amid mounting tensions between Russia and Ukraine, Pakistan’s benchmark KSE-100 Index also suffered a bloodbath on Monday.

KSE-100 opened negative as it lost more than 500 points in fifteen minutes. After trading continuously in the red all day, the index closed at 43,266.97, down 1284.38 points or a 2.88 percent drop.

Market parties were also cautious about the political unrest in the country.

The Index remained negative throughout the session, reaching an intraday low of 43,049.41

Of the 97 companies traded in the KSE100 Index, 8 closed 88, while 1 remained unchanged. Total traded volume for the index was 104.84 million shares.

Sectorally, the index was let down by Cement at 235 points, Commercial Banks at 222 points, Technology & Communications at 159 points, Fertilizers at 98 points and Power Generation & Distribution at 91 points.

The most points of the index were taken by LUCK, which decreased the index by 122 points, followed by HUBC by 79 points, TRG by 78 points, SYS by 59 points and HBL by 58 points.

Sectors supporting the index were Real Estate Investment Trust by 5 points, Insurance by 4 points, Close – End Mutual Fund by 2 points and Miscellaneous by 2 points.

The most points added to the index were by NATF contributing 12 points, followed by AICL at 7 points, DCR at 5 points, PSEL at 3 points, and HGFA at 2 points.

Total share volume increased by 102.08 million to 236.88 million shares. Market capitalization decreased by Rs.213.80 billion.

The total number of companies traded was 358 compared to 335 from the previous session. Of the traded scrips, 41 have closed, 301 closed while 16 remained unchanged.

The total number of transactions increased by 42,959 to 113,986.

Value Traded Up 3.48 Billion to Rs.8.21 Billion

CompanyVolume

Top ten by volume

Hum Network20.073.813Worldcall Telecom11.545.000Flying Cement(R)11.439.500TRG Pakistan9.512.556Telecard9.028.223Ghani Global Holdings7.855.000Unity Foods7.256.361Oil & Gas Development Company6.335.213Cnergyico PK6.280.9426Dost Steels6.

SectorVolume

Top sector by volume

Technology and Communication59,521,259Cement31,290,495Chemical18,752,269Engineering16,966,200Food and Personal Care Products15,257,523Energy Generation and Distribution12,630,778Commercial Banks11,969,793Oil and Gas Exploration Companies9,004,309Refinery8,570500,095Oil

Copyright Mettis Link News

Posted on: 2022-03-07T17:23:09+05:00

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This post PSX Closing Bell: Unintended Consequences was original published at “https://mettisglobal.news/psx-closing-bell-unintended-consequences/”

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