PSX Closing Bell: 100 index recovers by over 302 points

November 28, 2022 (MLN): Bulls made a comeback on Tuesday which boosted buying activity across the board at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 index gained 302.25 points to close the session at 42,373.59 while marking an intraday high of 42,438.08.

The bullish sentiments were attributed to the attractive valuations as investors opted to value buying today right after yesterday’s bloodbath.

“Stocks closed higher led by second and third-tier scrips on easing political noise and speculations ahead of SBP policy announcement,” Ahsan Mehanti CEO of Arif Habib Commodities told MG Link News.  

Surging global crude oil prices and govt expectations for $13bn foreign flood aid played a catalyst role in a positive close, he added.

By the session’s end, the total volumes of the KSE-100 index stood at 71.69mn shares, decreased by 41.12% DoD from 121.76mn shares traded on Monday.

In terms of sectors, most of the buying activity witnessed by commercial banks, technology, power generation, oil & gas, and cement cumulatively subtracted over 200 points to the index tally by the day’s end.

Out of 92 companies’ shares traded today 60 companies recorded gains and 30 companies sustained losses and the shares of two companies remained unchanged.

The stocks that emerged as net gainers during the day included ARPL (3.62%), RMPL (2.93%), SYS (2.59%), PSO (2.2%), LUCK (1.98%), HINOON (1.93%).

Meanwhile, the volume leaders on the benchmark index were UNITY (10.13mn), KEL (7.49mn), BAFL (6.73mn), HUBC (4.29mn), and EPCL (3.7mn).

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