PSX Closing Bell: A Shot in the Dark

June 16, 2022 (MLN): The domestic equities sustained positive momentum on Thursday and extended its gains by further adding 291 points to the benchmark KSE-100 index and closed the session on 41,730 points level.

After a sideways opening, the index remained positive throughout most the session as investors remained optimistic on Pakistan’s removal from FATF's Grey List.

Cement sector remained in limelight as the PM ordered the early start of work on the Sukkur-Hyderabad motorway project along with four other motorway projects, a note by Pearl Securities said.

Additionally, the cement manufacturers raised the prices by Rs50/bag in the North which further fueled the investor’s interest.

On the economic front, the ongoing chaos amidst melting foreign exchange reserves has further pushed the Pakistani rupee (PKR) to lose its value by 1.2 rupees in today’s interbank session as the local unit glided to PKR 207.67 against the US dollar compared to yesterday's closing of PKR 206.46 per USD.

The Index traded in a range of 440.61 points or 1.06 percent of previous close, showing an intraday high of 41,764.19 and a low of 41,323.58.

Of the 96 traded companies in the KSE100 Index 56 closed up 35 closed down, while 5 remained unchanged. Total volume traded for the index was 73.22 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 64 points, Power Generation & Distribution with 56 points, Cement with 54 points, Fertilizer with 49 points and Oil & Gas Marketing Companies with 35 points.

The most points added to the index was by HUBC which contributed 47 points followed by FFC with 35 points, PSO with 27 points, PPL with 24 points and OGDC with 22 points.

Sector wise, the index was let down by Chemical with 14 points, Technology & Communication with 6 points, Insurance with 6 points, Pharmaceuticals with 6 points and Automobile Assembler with 5 points.

The most points taken off the index was by SCBPL which stripped the index of 9 points followed by COLG with 9 points, MEBL with 8 points, JVDC with 6 points and HBL with 6 points.

All Share Volume increased by 20.47 Million to 162.18 Million Shares. Market Cap increased by Rs.41.01 Billion.

Total companies traded were 336 compared to 337 from the previous session. Of the scrips traded 173 closed up, 134 closed down while 29 remained unchanged.

Total trades increased by 1,343 to 76,542.

Value Traded increased by 0.02 Billion to Rs.4.78 Billion

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