PSX Closing Bell: A Drop of Blood

January 15, 2024 (MLN): The benchmark KSE-100 index started off the week with a buying momentum that pushed it to an intraday high of 65,174 by 09:43am.

However, sellers entered the market and slowly bled away the gains throughout the rest of trading.

At close, KSE-100 settled at 64,269.38 showing a decrease of 368.26 points or 0.57% from the previous session.

The index traded in a range of 1,042.92 points showing an intraday high of 65,173.87 (+536.23) and a low of 64,130.96 (-506.68) points.

The total volume of the KSE-100 index was 235.432 million shares.

Last week, the index recorded a gain of 123 points or 0.19% WoW.

In today's session, of the 100 index companies 22 closed up, 73 closed down, 1 was unchanged, while 4 remained untraded.

KSE-100 index was let down by Cement with 88.29, Commercial Banks with 51.13, Fertilizer with 49.51, Technology & Communication with 44.37, and Food & Personal Care Products with 28.75 points.

On the flip-side, the index was supported by Power Generation & Distribution with 46.9, Oil & Gas Exploration Companies with 5.39, Insurance with 4.2, Miscellaneous with 3.48, and Sugar & Allied Industries with 1.58 points.

Power generation was the best-performing sector today, with investors speculating on HUBC's board meeting scheduled for tomorrow to discuss corporate actions and business developments.

Companies that dragged the index lower were EFERT with 55.18, PPL with 33.91, SYS with 25.63, LUCK with 21.76 and DGKC with 20.71 points.

On the other hand, companies that added points to the index were HUBC with 57.68, OGDC with 54.14, PSO with 13.94, FFBL with 13.74, and MCB with 10.34 points.

In the broader market, the All-Share index closed at 43,443.50 with a net loss of 296.63 points.

Total market volume was 381.734 million shares compared to 643.308 from the previous session while traded value was recorded at Rs14.06 billion showing a decrease of Rs5.96bn.

There were 167,266 trades reported in 360 companies with 95 closing up, 247 closing down and 18 remaining unchanged.

To note, the KSE-100 has gained 22,817 points or 55.04% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,818 points, equivalent to 2.91%.

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