Bears ran riot at the Pakistan Stock Exchange (PSX) today, with the benchmark KSE-100 index losing over 680 points in intraday trading after the International Monetary Fund Executive Board issued its meetings scheduled till June 29, with Pakistan not included on the agenda this month.
Losing 680.08 points in the session, the benchmark KSE 100 index recorded an intraday low of 40,610.27, from Friday’s close of 41,301.29. The KMI 30 index slid by 1624.94 points closing at 69,371.18, meanwhile the KSE All share index plunged by 260.63 points settling at 27,660.03.
According to Capital Stake, the Technology and Communication sector lost 2.92 percent in its cumulative market capitalization. Systems Limited (SYS 3.27 percent), TRG Pakistan Limited (TRG 2.03 percent), Pakistan Telecommunication Company Limited (PTC 0.67 percent), and Avanceon Limited (AVN 5.53 percent), all closed in red.
Sectors such as technology, automobile, cement, chemicals, commercial banks, fertilizer, oil and gas exploration businesses, and OMCs trading in the negative experienced heavy selling.
Sectors driving the benchmark KSE 100 towards a negative zone included Oil and Gas Exploration, Technology & Communication, and Commercial Banks. Companies that dragged the index lower included Bank of Punjab (BOP -3.36 percent), Worldcall Telecom Limited (WTL -1.75 percent), Pakistan State Oil (PSO -2.74 percent), Oil and Gas Development Company Limited (OGDC -2.5 percent), and Hascol Petroleum Limited (HASCOL -3.25 percent).
Overall, the KSE-100 market volume closed at 179,780,375 shares. Companies showing the highest participation included Worldcall Telecom Limited (WTL -1.75 percent), Pakistan International Bulk Terminal (PIBTL -7.38 percent), and Cnergyico PK Limited (CNERGY -3.96 percent). The scrips had 27.67 million shares, 7.038 million shares, and 9.338 million shares traded, respectively.
Of the 318 scrips traded, 54 advanced, 242 declined and 22 remained unchanged.
Top Volumes
| SCRIP | PRICE | HIGH | LOW | CHANGE | VOLUME |
|---|---|---|---|---|---|
| WTL | 1.12 | 1.15 | 1.1 | -0.02 | 27,671,924 |
| KEL | 1.6 | 1.68 | 1.55 | -0.06 | 11,375,247 |
| CNERGY | 2.91 | 3.08 | 2.9 | -0.12 | 9,338,326 |
| TPLP | 11.62 | 12.1 | 11.45 | 0.03 | 8,104,492 |
| PIBTL | 3.89 | 4.25 | 3.83 | -0.31 | 7,038,000 |
| BAFL | 28.6 | 28.95 | 28.6 | -0.18 | 6,057,834 |
| SNGP | 42.2 | 42.75 | 40.5 | 0.44 | 4,873,787 |
Equity markets around the globe showed a mixed trend. WTI crude oil price fell by 0.35 percent to $71.53, while Brent crude oil price declined by 0.20 percent to $76.46 per barrel.
