PSX Closing Bell: A Shortcut to Mushrooms

April 14, 2021 (MLN): Bulls maintained dominance in the Pakistan Stock Market on Wednesday as the benchmark KSE-100 Index extended yesterday’s gains and closed at 45,311.22 after advancing 262.65 points or a 0.58% increase.

Investors responded positively to the GDP growth forecast up-gradation to 2.9% by the Ministry of Finance. Winding down of nationwide protests by a religious party and subsequent clearance of main business hubs by LEAs also elevated investors’ spirits, a closing note by Aba Ali Habib research said.

The LSMI output increased by 4.85% YoY in Feb’21 also boosted investors’ confidence in the economy as it recovers at a faster than expected pace.

The Index remained positive throughout the session touching an intraday high of 45,347.40

Of the 95 traded companies in the KSE100 Index 64 closed up 25 closed down, while 6 remained unchanged. Total volume traded for the index was 135.88 million shares.

Sectors propping up the index were Technology & Communication with 46 points, Cement with 35 points, Commercial Banks with 29 points, Oil & Gas Exploration Companies with 26 points and Refinery with 24 points.

The most points added to the index was by TRG which contributed 32 points followed by FFC with 19 points, HBL with 19 points, LUCK with 18 points and ATRL with 17 points.

Sector wise, the index was let down by Food & Personal Care Products with 6 points, Power Generation & Distribution with 4 points, Sugar & Allied Industries with 2 points and Inv. Banks / Inv. Cos. / Securities Cos. with 2 points.

The most points taken off the index was by MCB which stripped the index of 12 points followed by POL with 9 points, ABL with 4 points, KTML with 3 points and UNITY with 3 points.

All Share Volume decreased by 131.54 Million to 341.89 Million Shares. Market Cap increased by Rs.36.56 Billion.

Total companies traded were 380 compared to 398 from the previous session. Of the scrips traded 219 closed up, 137 closed down while 24 remained unchanged.

Total trades decreased by 28,452 to 120,138.

Value Traded decreased by 2.01 Billion to Rs.16.44 Billion

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