PSX Closing Bell: Anchors Aweigh

December 11, 2024 (MLN): After breaking its nine-day-long winning streak, Pakistan stocks resumed their upward surge as the market anticipates a rate cut by the central bank.

Accordingly, the benchmark KSE-100 Index concluded Wednesday's trading session at a record high of 110,810.21, showing a surge of 1,913.56 points or 1.76%.

The index remained positive throughout the day showing an intraday high of 111,012.01 (+2,115.36) and a low of 109,416.32 (+519.67) points.

The total volume of the KSE-100 Index was 509.28 million shares.

Of the 100 index companies 73 closed up, 26 closed down, while 1 was unchanged.

Top gainers during the day were SHEL (+10.00%), PGLC (+9.85%), LOTCHEM (+9.75%), PABC (+8.82%), and AKBL (+8.61%).

On the other hand, top losers were MEHT (-9.51%), SEARL (-4.11%), KOHC (-2.88%), EFUG (-2.64%), and NESTLE (-2.39%).

In terms of index-point contributions, companies that propped up the index were MARI (+293.29pts), PPL (+246.86pts), OGDC (+233.09pts), DAWH (+136.10pts), and UBL (+93.01pts).

Meanwhile, companies that dragged the index lower were MEHT (-43.35pts), SEARL (-42.83pts), HMB (-27.04pts), KOHC (-23.47pts), and EFERT (-16.84pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+807.15pts), Commercial Banks (+248.62pts), Oil & Gas Marketing Companies (+193.77pts), Inv. Banks / Inv. Cos. / Securities Cos. (+152.39pts), and Fertilizer (+91.06pts).

While the index was let down by Pharmaceuticals (-34.25pts), Paper, Board & Packaging (-3.35pts), Tobacco (-2.96pts), Woollen (-0.13pts), and Modarabas (-0.06pts).

In the broader market, the All-Share Index closed at 70,196.04 with a net gain of 1,288.81 points or 1.87%.

Total market volume was 1,080.02 million shares compared to 1,548.30m from the previous session while traded value was recorded at Rs47.14 billion showing a decrease of Rs21.67bn.

There were 439,304 trades reported in 471 companies with 288 closing up, 129 closing down, and 54 remaining unchanged.

To note, the KSE-100 has gained 32,365 points or 41.26% during the fiscal year, whereas it has increased 48,359 points or 77.44% so far this calendar year.

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