PSX breaks major winning streak with a loss of over 900 points

Pakistan Stock Exchange records decline

KARACHI: In a lacklustre start to the week, the Pakistan Stock Exchange (PSX) witnessed a downturn, with the benchmark KSE-100 index experiencing a dip of more than 925 points, settling at 65,204.68 at the close of today’s trading session.

Throughout the day, the index fluctuated within a range of 1,521.68 points, reaching an intraday high of 66,586.62 (+456.59) and a low of 65,064.94 (-1,065.08) points.

The trading activity recorded a total volume of 963.384 million shares, marking the first surplus in the last five months.

psx market watch
PSX trade screen – closing December 18

Last week marked a break in the KSE-100 index’s 10-week-long winning streak, as it experienced a marginal decline of 93.6 points, or 0.14 per cent WoW.

In today’s session, among the 100 index companies, 10 concluded with gains, 69 with losses, 0 remained unchanged, and 21 were untraded.

Key players pulling KSE-100 down

Commercial banks, with a decline of 275.34 points, fertiliser with 152.98 points, oil and gas exploration companies with 142.97 points, oil and gas marketing companies with 64.96 points, and cement with 61.01 points, contributed to the dip in the KSE-100 index.

Conversely, Power Generation & Distribution, adding 21.51 points, Miscellaneous with 9.86, Refinery with 3.1, Modarabas with 0.06, and Vanaspati & Allied Industries with 0 points, provided some support.

Key players pulling the index down also included PPL with 64.62, MEBL with 58.13, ENGRO with 55.83, DAWH with 55.38, and OGDC with 52.05 points.

On the positive side, companies such as KEL with 49.42, PTC with 18.86, PSEL with 11.84, CNERGY with 7.5, and TRG with 2.43 points contributed to cushioning the impact.

In the broader market, the All-Share index concluded at 43,643.83, registering a net loss of 405.38 points.

The day’s trading session reflects the nuanced dynamics of the market, setting the tone for the week ahead.

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