PSX Closing Bell: Ain't No Mountain High Enough

February 22, 2023 (MLN): The capital market on Wednesday continued to experience a bullish trend following the previous day's momentum, with investors eagerly waiting for positive developments from the government regarding the IMF loan.

Accordingly, the benchmark KSE-100 index ended the trading session on Wednesday with a gain of 217.76 points to close at 41,167.60.

The Index traded in a range of 286.86 points or 0.70 percent of the previous close, showing an intraday high of 41,209.89 and a low of 40,923.03.

Of the 93 traded companies in the KSE100 Index 52 closed up 35 closed down, and 6 remained unchanged. The total volume traded for the index was 102.58 million shares.

Sectors propping up the index were Commercial Banks with 123 points, Cement with 68 points, Power Generation & Distribution with 53 points, Tobacco with 13 points, and Inv. Banks / Inv. Cos. / Securities Cos. with 12 points.

The most points added to the index were by UBL which contributed 99 points followed by HUBC with 45 points, MLCF with 21 points, HBL with 18 points, and PAKT with 13 points.

Sector-wise, the index was let down by Oil & Gas Exploration Companies with 42 points, Miscellaneous with 20 points, Pharmaceuticals with 13 points, Chemical with 5 points, and Food & Personal Care Products with 3 points.

The most points taken off the index was by PPL which stripped the index of 24 points followed by PSEL with 17 points, OGDC with 8 points, and MARI and ABOT with 7 points each.

All share volume increased by 100.05mn to 196.54mn shares. Market Cap increased by Rs21.6bn.

The total companies traded were 331 compared to 300 from the previous session. Of the scrips traded 185 closed up, 122 closed down and 24 remained unchanged.

Total trades increased by 21,584 to 96,285.

Value Traded increased by 1.81bn to Rs6.41bn

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