July 03, 2024 (MLN): Bulls maintained their momentum at the Pakistan Stock Exchange (PSX) on Wednesday, pushing the benchmark KSE-100 index above the 80,000 level.
The KSE-100 Index closed at an all-time high of 80,233.67, up 680.79 points or 0.86% from the previous session.
The index traded in a range of 707.98 points showing an intraday high of 80,405.23 (+852.35) and a low of 79,697.25 (+144.37) points.
The total volume of the KSE-100 Index was 280.09 million shares.
Of the 100 index companies 65 closed up, 31 closed down, while 4 were unchanged.
Pakistan is looking to clinch a staff level agreement on an International Monetary Fund bailout of more than $6 billion this month after addressing all of the lender's requirements in its annual budget, Reuters reported, citing Pakistan's junior finance minister.
KSE-100 index was supported by Commercial Banks (+274.44pts), Oil & Gas Exploration Companies (+161.35pts), Power Generation & Distribution (+87.90pts), Cement (+87.45pts), and Oil & Gas Marketing Companies (+68.34pts).
On the flip-side, the index was let down by Fertilizer (-102.98pts), Tobacco (-32.38pts), Engineering (-29.42pts), Automobile Assembler (-12.75pts), and Automobile Parts & Accessories (-6.91pts).
Companies that added points to the index were HBL (+121.23pts), POL (+88.86pts), HUBC (+85.79pts), NBP (+46.85pts), and SYS (+46.23pts).
On the other hand, companies that dragged the index lower were FFC (-56.14pts), EFERT (-41.89pts), PAKT (-32.38pts), FABL (-17.03pts), and INIL (-14.87pts).
In the broader market, the All-Share index closed at 50,771.44 with a net gain of 364.20 points or 0.72%.
Total market volume was 536.58 million shares compared to 413.15m from the previous session while traded value was recorded at Rs22.72 billion showing an increase of Rs6.13bn.
There were 257,208 trades reported in 447 companies with 256 closing up, 135 closing down, and 56 remaining unchanged.
In a recent development, the Privatization Commission (PC) has set the deadline for the privatization process of Pakistan International Airlines (PSX: PIAHCLA) for August 2024.
Its shares have jumped 29.5% in the past three trading sessions.
| Company | Volume |
|---|---|
| PAEL | 34,586,757 |
| BOP | 31,468,760 |
| NBP | 21,224,492 |
| AKDSL | 15,086,401 |
| KEL | 13,995,944 |
| WTL | 13,490,029 |
| FFBL | 13,222,352 |
| AKBL | 13,043,489 |
| UNITY | 12,900,547 |
| HUMNL | 12,601,867 |
To note, the KSE-100 has gained 1,789 points or 2.28% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 17,783 points, equivalent to 28.47%.
Copyright Mettis Link News
Posted on: 2024-07-03T16:21:58+05:00
