Karachi Stock Exchange Experience Significant Drawdown

Karachi Stock Exchange Turns Red as Profit-Taking Dominates After a Promising Start

This passage provides a detailed overview of the financial performance of the Pakistan Stock Exchange, particularly the KSE-100 Index, and related indices, as well as individual stock performances.

Here’s a breakdown of the key points:

  1. KSE-100 Index:
  • Intraday high: 66,564.04 points
  • Intraday low: 65,129.00 points
  • Closing: 66,012.33 points (down 211.31 points or 0.32 percent)
  1. Market Statistics:
  • Daily volumes on ready counter: 1.215 billion shares
  • Daily traded value on ready counter: Rs 33.423 billion
  1. BRIndex100:
  • Lost 32.15 points or 0.47 percent, closing at 6,783.19 points
  • Total daily turnover: 971.155 million shares
  1. BRIndex30:
  • Declined by 251.47 points or 1.04 percent, closing at 23,997.96 points
  • Total daily trading volumes: 645.612 million shares
  1. Foreign Investors:
  • Net buyers of shares worth $3.904 million
  1. Market Capitalization:
  • Declined by Rs 36 billion to Rs 9.462 trillion
  1. Individual Stock Performances:
  • Volume leader: K-Electric with 164.643 million shares
  • Top gainers: Mari Petroleum Company and Sapphire Fibres
  • Top losers: Nestle Pakistan and Rafhan Maize Products Company
  1. Analyst Commentary:
  • Analyst at Topline Securities mentioned that the market closed on a negative note after six consecutive days of strength.
  • Investors engaged in profit-taking, particularly in Power, OMC, and Banking sectors.
  1. Sectoral Indices:
  • Power, OMC, and Banking sectors faced selling pressure.
  • BR Tech. & Comm. Index increased by 73.9 points or 1.71 percent.
  • Other indices (Automobile Assembler, Cement, Commercial Banks, Power Generation and Distribution, Oil and Gas) experienced various degrees of decline or gain.
  1. Additional Commentary:
    • The stock exchange witnessed profit-taking after a significant increase of 4,500 points the previous week.
    • Traded volume: 1,216 million shares, with specific stocks like KEL, WTL, KOSM, PTC, and AKBL being the volume leaders.

the market experienced a negative trend with profit-taking, and different sectors and individual stocks showed varied performances during the trading session. The analyst comments provide insights into the market dynamics and factors influencing the stock prices.

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