PSX Closing Bell: Ace Up Your Sleeve

November 08, 2024 (MLN): The bulls sustained their momentum, driven by improved macroeconomic sentiment and falling interest rates, lifting the benchmark index to a new record high.

The KSE-100 Index closed Friday's trading session at 93,291.68, up by 771.20 points or 0.83%.

The index remained positive throughout the day showing an intraday high of 93,514.55 (+994.07) and a low of 92,566.49 (+46.01) points.

The total volume of the KSE-100 Index was 362.83 million shares.

Of the 100 index companies 60 closed up, 37 closed down, while 3 were unchanged.

Top gainers during the day were PIBTL (+15.97%), BNWM (+9.99%), NCPL (+9.97%), ATRL (+8.68%), and HGFA (+6.35%).

On the other hand, top losers were KOSM (-2.81%), JVDC (-2.54%), PGLC (-2.22%), SRVI (-2.21%), and JDWS (-2.12%).

In terms of index-point contributions, companies that propped up the index were OGDC (+172.01pts), PPL (+96.80pts), HUBC (+89.63pts), PSO (+77.58pts), and ATRL (+54.78pts).

Meanwhile, companies that dragged the index lower were LUCK (-40.58pts), UBL (-34.27pts), MCB (-32.41pts), MEBL (-26.29pts), and CHCC (-21.63pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+311.25pts), Power Generation & Distribution (+132.93pts), Fertilizer (+106.59pts), Oil & Gas Marketing Companies (+88.57pts), and Refinery (+64.49pts).

While the index was let down by Commercial Banks (-79.40pts), Cement (-31.96pts), Leather & Tanneries (-17.80pts), Inv. Banks / Inv. Cos. / Securities Cos. (-6.65pts), and Insurance (-6.15pts).

In the broader market, the All-Share Index closed at 59,401.09 with a net gain of 530.35 points or 0.90%.

Total market volume was 763.26 million shares compared to 678.79m from the previous session while traded value was recorded at Rs30.21 billion showing an increase of Rs5.38bn.

There were 310,177 trades reported in 446 companies with 243 closing up, 145 closing down, and 58 remaining unchanged.

To note, the KSE-100 has gained 14,847 points or 18.93% during the fiscal year, whereas it has increased 30,841 points or 49.38% so far this calendar year.

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