PSX Closing Bell: Back On Track

July 23, 2024 (MLN): Pakistan stocks rebounded after slumping almost 2% yesterday, with the benchmark KSE-100 Index gaining 447.91 points or 0.57% to close Tuesday's trading session at 78,987.09.

The index remained positive throughout the day showing an intraday high of 79,585.34 (+1,046.16) and a low of 78,634.15 (+94.97) points.

The total volume of the KSE-100 Index was 137.60 million shares.

Of the 100 index companies 61 closed up, 34 closed down, while 5 were unchanged.

Top gainers during the day were LCI (+6.77%), INIL (+4.43%), CEPB (+3.25%), MUREB (+3.18%), and FATIMA (+3.16%).

On the other hand, top losers were FABL (-3.32%), FCEPL (-3.03%), SNGP (-2.99%), ABL (-2.89%), and HGFA (-2.27%).

In terms of index-point contributions, companies that propped up the index were HUBC (+88.68pts), OGDC (+43.49pts), MARI (+39.60pts), UBL (+28.36pts), and MTL (+27.95pts).

Meanwhile, companies that dragged the index lower were HBL (-20.80pts), SNGP (-20.05pts), FABL (-19.45pts), ABL (-12.54pts), and BAHL (-11.82pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+111.91pts), Power Generation & Distribution (+89.49pts), Fertilizer (+68.40pts), Automobile Assembler (+40.17pts), and Technology & Communication (+33.34pts).

While the index was let down by Inv. Banks / Inv. Cos. / Securities Cos. (-11.45pts), Food & Personal Care Products (-6.88pts), Cable & Electrical Goods (-4.47pts), Insurance (-2.95pts), and Close - End Mutual Fund (-1.26pts).

In the broader market, the All-Share Index closed at 50,135.58 with a net gain of 268.24 points or 0.54%.

Total market volume was 316.25 million shares compared to 375.60m from the previous session while traded value was recorded at Rs17.07 billion showing a decrease of Rs2.28bn.

There were 214,597 trades reported in 433 companies with 225 closing up, 164 closing down, and 44 remaining unchanged.

To note, the KSE-100 has gained 542 points or 0.69% so far this month, whereas the ongoing calendar year has witnessed a cumulative increase of 16,536 points, equivalent to 26.48%.

Copyright Mettis Link News