ISLAMABAD: The Pakistan Stock Exchange (PSX) observed a volatile session on Monday with the benchmark KSE-100 Index shedding 1,332 points or a negative change of 1.13% before closing at 116,255.13 points.
Selling was observed in key sectors including commercial banks, oil and gas exploration companies, OMCs, and power generation. Index-heavy stocks including HUBCO, PSO, SHELL, SSGC, MARI, OGDC, PPL, HBL, MCB, MEBL, and NBP traded in the red.
“We think it is a good time to accumulate cement on dips, as the sector can outperform defensive sectors over the next six months if the hitherto pricing discipline sustains, in our view,” said Intermarket Securities.
The market started trading on a positive note with the benchmark index hitting an intra-day high of 118,765 points.
On Monday a total of 819,805,715 shares were entertained during the day as compared to 935,783,268 shares the last working day, whereas the price of shares stood at Rs 38.326 billion against Rs.39.620 billion on the previous trading day.
As many as 458 companies transacted their shares in the stock market, 113 of them recorded gains and 291 sustained losses, whereas the share price of 54 companies remained unchanged.
The three top trading companies were Cnergyico PK with 83,169,417 shares at Rs 7.41 per share followed by Fauji Foods Limited with 47,302,289 shares at Rs.18.41 per share whereas WorldCall Telecom settled with 41,293,698 shares at Rs.1.65 per share.
Murree Brewery Company Limited witnessed a maximum increase of Rs.63.08 per share price, closing at Rs 782.55, whereas was JDW Sugar Mills Limited was the runner-up with a Rs 44.25 rise in its per share price to Rs.747.89.
Rafhan Maize Products Company Limited witnessed a maximum decline of Rs 138.96 per share closing at Rs 8,855.00 followed by Hallmark Company Limited with a drop of Rs 103.85 to close at Rs.947.22.
Last week, the Pakistan Stock Exchange (PSX) observed a bullish trend, reaching record-high levels with substantial gains by the close of the trading week on January 3, 2025. This surge was driven by strong investor interest and backed by institutional support.
The benchmark KSE-100 index soared by 6,235.80 points on a week-on-week basis, closing at a new all-time high of 117,586.98 points.
Globally, Asian stock markets started the week on a mixed note, with a busy week ahead filled with economic updates. These reports are expected to highlight the relative strength of the United States economy, further supporting the ongoing rally in the US dollar.
