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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