PSX Closing Bell: 70k New Normal

April 16, 2024 (MLN): The benchmark KSE-100 index ended Tuesday's trading session at 70,483.66 showing a slight decrease of 60.92 points or 0.09%.

The index traded in a range of 687.37 points showing an intraday high of 71,092.61 (+548.03) and a low of 70,405.24 (-139.34) points.

During the day, the index crossed the 71,000 level for the first time in its history. However, it faced resistance from this level.

The total volume of the KSE-100 index was 219.859 million shares.

Of the 100 index companies 42 closed up, 53 closed down, 3 were unchanged, while 2 remained untraded.

KSE-100 index was let down by Fertilizer with 96.85, Cement with 40.34, Miscellaneous with 34.66, Power Generation & Distribution with 31.27, and Inv. Banks / Inv. Cos. / Securities Cos. with 23.59 points.

On the flip-side, the index was supported by Commercial Banks with 180.51, Oil & Gas Exploration Companies with 26.4, Engineering with 15.58, Textile Composite with 12.78, and Chemical with 2.54 points.

Companies that dragged the index lower were FFC with 71.58, DAWH with 31.84, PSEL with 31.31, EFERT with 30.36 and PSO with 17.39 points.

On the other hand, companies that added points to the index were HBL with 88.75, BAHL with 70.52, MARI with 29.92, FATIMA with 19.35, and INIL with 15.22 points.

In the broader market, the All-Share index closed at 46,296.90 with a net loss of 53.14 points.

Total market volume was 548.418 million shares compared to 555.215 from the previous session while traded value was recorded at Rs21.03 billion showing a decrease of Rs0.96bn.

There were 238,055 trades reported in 365 companies with 172 closing up, 167 closing down and 26 remaining unchanged.

To note, the KSE-100 has gained 29,031 points or 70.03% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 8,033 points, equivalent to 12.86%.

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