KSE-100 down 179 points as investors respond to unchanged policy rate
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Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, on July 3, 2023. — Reuters
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KARACHI: In the Pakistan Stock Exchange (PSX), the rate continued in the range of range -bound sessions on Tuesday. After keeping the policy rate at 12 % after the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP), the Benchmark’s SE -100 index closed less than 179 points, as investors were upset.
The KSE -100 declined by 178.69 points, or 0.16 percent, which fell 114,177.66 points, lower than 114,356.34 points in the final session. The highest index of the day was 114,486.2 points, while the lowest level was recorded at 113,610.31 points.
“SBP shut down stocks between thin trade after keeping stagnation at a key policy rate due to permanent basic inflation, price fluctuations and external account pressure due to permanent basic inflation, price fluctuations and external account pressure,” said Arif Habib Corporation analyst, Ahsan Mahani.
However, the late session supported the data of 40 % of YOY rising $ 3.1 billion in February 2025, he said. “Uncertainty over US recession problems, weak rupee and uncertainty on the results of the Pakistan-IMF reviews played an essential role in the nearby Baresh.
The KSE -30 index fell 35,347.19 points 37.49 points or 0.11 percent to 35,309.7 points. The shares of the trade fell six million shares to 324.654 million shares at 318.518 million shares. The commercial value increased from Rs 22.883 billion to Rs 20.704 billion. Market Capital was Rs 14.065 trillion against Rs 14.085 trillion. Of the 438 companies operating in the session, 132 closed in green, Red 233 and 73 have not changed.
Topline securities analyst Mazl Millah said the KSE -100 index observed a tough tug of war between bulls and bears. Despite a significant decline in inflation, the market was opened on a negative note, which reacted rapidly to the State Bank of Pakistan (SBP) decision, despite a significant decline in inflation, on the decision to maintain the policy rate 12 %. The decision reduced the sentiments of investors, which pushed the index to less than 746 points.
However, in the second half of the session, the restoration of buying interest was seen. Market participants responded positively to speculations regarding possible approval of long -standing circular loans. This wave of hope pushed the index to recover 129 points and register intra -high.
The positive movement was mainly fueled by PSO, PPL, OGDC, MeBL and HUBC, which combined with 425 points in the index. On the contrary, UBL, SRVI, FFC and EFERT weighing in the market, which has drawn the index below 210 points.
The highest increase was recorded at Mitchez International Limited, which increased to Rs 35555.73 per share to Rs 32.34, followed by Premium Textile Mills Limited, which increased to Rs 29.9 to Rs 439.9 per share. Unilever Pakistan Foods Limited noted a significant reduction, which fell by Rs 412.91 to Rs 23,286 per share. PIA Holding Company Limited B followed it, which was reduced from Rs 82.23 to Rs 809.2 per share.
JS Global Analyst Mohammad Hassan Athar said that after the decision to keep the SBP policy rate, no change, contrary to market expectations. He advised that “investors should be careful and closely monitor the economic indicators.”
Sui South Gas remains a volume leader with 26.385 million shares, which closed at a maximum of Rs 1.58 per share to Rs 37.03. Bow Punjab, with 22.122 million shares, followed it, which closed at Rs 13.16 per share by 4 money.
The other important business includes World Calle Telecom, Silk Bank Limited, PSO, National Bank XD, Military Cement, Maple Leaf, Pak Petroleum and Future Limited in the Future Market, 339 companies recording trade, of which 78 increased, 257 were reduced and 4 were unchanged.
