PSX Closing Bell: A Glimmer of Hope

September 12, 2024 (MLN): Pakistan stocks rebounded on Thursday ahead of the monetary policy meeting, where the investors were eyeing a large interest cut by the central bank.

The benchmark KSE-100 Index concluded the trading session at 79,017.61, showing an increase of 365.82 points or 0.47%.

After the market close, the SBP announced its decision, slashing the policy rate by 200 basis points to 17.5%

The index traded in a range of 639.96 points showing an intraday high of 79,217.61 (+565.82) and a low of 78,577.65 (-74.14) points.

The total volume of the KSE-100 Index was 132.75 million shares.

Of the 100 index companies 65 closed up, 31 closed down, while 4 were unchanged.

Top gainers during the day were PAKT (+5.64%), PGLC (+4.91%), FCCL (+4.78%), MLCF (+4.45%), and KTML (+4.17%).

On the other hand, top losers were THALL (-4.75%), YOUW (-4.28%), NBP (-2.72%), MARI (-2.32%), and SCBPL (-2.20%).

In terms of index-point contributions, companies that propped up the index were UBL (+98.10pts), FFC (+49.50pts), FCCL (+30.92pts), OGDC (+30.29pts), and HUBC (+27.53pts).

Meanwhile, companies that dragged the index lower were MARI (-71.50pts), NBP (-26.69pts), LUCK (-23.57pts), THALL (-23.39pts), and HBL (-11.13pts).

Sector-wise, KSE-100 Index was supported by Fertilizer (+86.94pts), Commercial Banks (+82.39pts), Cement (+63.84pts), Power Generation & Distribution (+41.11pts), and Oil & Gas Marketing Companies (+23.40pts).

While the index was let down by Automobile Parts & Accessories (-23.39pts), Oil & Gas Exploration Companies (-14.91pts), Insurance (-3.38pts), Glass & Ceramics (-3.12pts), and Automobile Assembler (-2.16pts).

In the broader market, the All-Share Index closed at 50,974.93 with a net gain of 197.28 points or 0.39%.

Total market volume was 584.28 million shares compared to 532.73m from the previous session while traded value was recorded at Rs16.36 billion showing an increase of Rs1.63bn.

There were 233,249 trades reported in 437 companies with 211 closing up, 165 closing down, and 61 remaining unchanged.

To note, the KSE-100 has gained 573 points or 0.73% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,567 points, equivalent to 26.53%.

Copyright Mettis Link News