PSX Closing Bell: A New Day Has Come

May 29, 2023 (MLN): Bulls made a strong comeback to Pakistan Stock Exchange (PSX) on Monday on the back of the anticipated business-friendly budget for the year 2023-24 which is set to be announced on June 09, 2023. 

In addition, heavy buying activity was observed across the board as investors cheered the newsflows wherein Finance Minister Ishaq Dar assured that Pakistan will not default even with no IMF. 

As a result, the benchmark KSE-100 Index closed Monday's trading session at 41,340.06 showing an increase of 375.52 points.

The index traded in a range of 643.98 points showing an intraday high of 41,649.13 and a low of 41,005.15.

The total Volume of the KSE100 Index was 95.414 million shares.

Of the companies in KSE100 53 closed up, 39 closed down, 5 were unchanged while 3 remained untraded.

KSE100 index was supported by Technology & Communication with 114.26, Fertilizer with 56.82, Oil & Gas Exploration Companies with 53.2, Cement with 39.85 and Miscellaneous with 28.47 points.

Companies adding points to the index were SYS with 67.18, TRG with 44.28, COLG with 29.2, ENGRO with 28.0 and PSEL with 26.5 points.

KSE100 Index was let down by Commercial Banks with 16.77, Pharmaceuticals with 9.1, Food & Personal Care Products with 8.66, Oil & Gas Marketing Companies with 3.12 and Modarabas with 2.22 points.

Companies dragging the index lower were NESTLE with 9.02, NBP with 6.56, SEARL with 5.9, PSO with 5.74 and ABOT with 3.69 points.

In the broader market, the All-Share index closed at 27,650.12 with a net gain of 234.1 points.

The total market volume was 346.35 million shares with the traded value being recorded at 6.39 billion.

There were 94,725 trades reported in 342 companies with 202 closing up, 124 closing down and 16 remaining unchanged.

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