February 01, 2024 (MLN): The domestic equity market maintained its upward momentum for the second consecutive session, with the benchmark KSE-100 index closing Thursday's trading session at 62,393.74, reflecting an increase of 414.56 points or 0.67%.
The index traded in a range of 715.53 points showing an intraday high of 62,480.23 (+501.05) and a low of 61,764.70 (-214.48) points.
The total volume of the KSE-100 index was 138.794 million shares.
A positive shift has occurred in the market, propelled by the majority of companies reporting a substantial surge in profits.
However, the recent inflation figures showed that the consumer price index (CPI) for the month of January 2024 clocked in at 28.34% YoY, hotter than what market anticipated.
It is important to note that the benchmark index lost 471.86 points (0.76%) in January, marking a negative start to the year amid political disturbances and profit-taking.
Of the 100 index companies 56 closed up, 36 closed down, 3 were unchanged, while 5 remained untraded.
KSE-100 index was supported by Oil & Gas Exploration Companies with 269.28, Commercial Banks with 103.09, Refinery with 26.25, Pharmaceuticals with 23.56, and Fertilizer with 14.78 points.
On the contrary, the index was let down by Tobacco with 31.37, Cement with 16.79, Power Generation & Distribution with 16.14, Engineering with 10.21, and Food & Personal Care Products with 5.23 points.
Companies adding points to the index were OGDC with 175.96, MEBL with 60.25, MARI with 55.44, PPL with 35.51, and ENGRO with 33.74 points.
Meanwhile, companies that dragged the index lower were PAKT with 31.37, EFERT with 30.48, BAHL with 23.92, LUCK with 18.26 and INDU with 14.68 points.
In the broader market, the All-Share index closed at 42,102.14 with a net gain of 209.46 points.
Total market volume was 270.538 million shares compared to 276.465 from the previous session while traded value was recorded at Rs11.63 billion showing an increase of Rs2.35bn.
There were 130,232 trades reported in 345 companies with 165 closing up, 154 closing down and 26 remaining unchanged.
| Company | Volume |
|---|---|
| KEL | 33,965,773 |
| SNBL | 28,110,500 |
| PRL | 26,126,125 |
| PPL | 19,781,910 |
| PIAA | 18,838,500 |
| OGDC | 16,985,527 |
| BOP | 11,856,210 |
| BAFL | 10,327,286 |
| HASCOL | 8,602,000 |
| CNERGY | 6,401,968 |
To note, the KSE-100 has gained 20,941 points or 50.52% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of -57 points, equivalent to -0.09%.
Copyright Mettis Link News
Posted on: 2024-02-01T16:20:04+05:00
