KARACHI: The Pakistan Stock Exchange (PSX) closed slightly lower on the first day of the week, Monday, with the benchmark KSE-100 index shedding 0.26% to settle at 78,283.29.
Despite a strong start, the market failed to sustain gains, with selling pressure evident in the latter half of the session. Volume remained robust, with over 457 million shares traded. The market’s inability to hold onto early gains may be a cause for concern, but the overall decline was modest, and investors will be watching closely for cues in the next session.
Pakistan stocks kicked off the week on a positive note. However, concerns regarding a delay in the International Monetary Fund (IMF) executive board’s approval for the bailout package continued to take a toll on markets, said Mettis Global. KSE-100 ultimately closed at 78,283.29, showing a decrease of 204.92 points or 0.26%.
Pakistan equities moved in both directions as bullish & bearish forces confronted throughout the session to take the helm at PSX. However, bears emerged as a winner as the KSE 100 index called the day at 78,283 levels (-205 points; down 0.26%).
Read More: Gold rates in Pakistan reach Rs 262,500/tola
During the day following companies announced their results which had an impact on the Pakistan Stock Exchange (PSX) KSE-100 index.
Indus Motors (INDU) reported a 48% year-over-year (YoY) increase in earnings per share (EPS) for the fourth quarter of fiscal year 2024, with EPS reaching Rs 72.09. This also represents a 27% quarter-over-quarter (QoQ) gain.
Meanwhile, Airlink (AIRLINK) announced a significant 49% QoQ increase in EPS for the same period, with EPS standing at Rs 3.92. Pakistan Oilfields Limited (POL) also released its financial results, showing a 57% YoY increase in EPS for 4QFY24, with EPS reaching Rs 32.45. However, this represents a 25% QoQ decline.”
Investors chose to make a profit taking in selective stocks of bank, fertilizer, auto, auto and steel sectors, according to Topline Securities. Resultantly, MEBL, HBL, ENGRO, MTL and INIL lost 410 points, cumulatively. On the flip side, HUBC, MARI and BAHL collectively added 326 points as they witnessed rejuvenated buying interest in them. Over 456 million shares were traded at the bourse while the total value landed at Rs15.8 billion. HASCOL led the volume chart with the trading of over 46 million shares.
 closed lower on first day of week, Monday, with benchmark KSE-100 index shedding 0.26% to settle at 78,283){kind=link}