PSX Closing Bell: Bargain Hunter

January 02, 2023 (MLN): The beginning of year 2023 has brought a positive change in market, as KSE-100 index crossed the 41,00o index and gained around 600 points during trading hours.

On Monday, benchmark KSE-100 index gained 395 points (0.98% DoD) to close at 40,815 in today's trading session.

On the last day of last year's trading, the market gained 673.09 points (1.69%) and reached 40,000 on Friday.

The beginning of year 2023 has brought a positive change in market, as KSE-100 index crossed the 41,00o index and gained around 600 points during trading hours.

Pakistan Stock Exchange's performance was boosted by oil price increase in international market and expected good banking annual earnings as more buying activity witnessed in oil & gas and banking sector.

To note, the consumer price index (CPI) for the month of December 2022 increased by 24.5% YoY, and on monthly basis, it increased to 0.5% MoM.

The benchmark KSE-100 index made an intraday high of 41,027.51 and an intraday low of 40,348.89 during the day.

By the session’s end, the total volumes of the KSE-100 index stood at 107.6 shares, decreased by 47.25% DoD from 204shares traded in last week on Friday.

Shares of 91 companies were traded on Monday, of which 35 registered an increase, 35 recorded a fall, and one remained unchanged.

In terms of sectors, most of the positive contributions came from commercial, fertilizer, oil & gas exploration, oil & gas marketing, and refinery which cumulatively added 459.98 points to the index tally by the day’s end.

Meanwhile, the volume leaders on the benchmark index were PPL (14.96mn), CNERGY (10.33mn), OGDC (7.75mn), SNGP (6.95mn), and PIBTL (6.89mn).

The scrips which gained the most during the session included: MARI (1.30%), COLG (1.08%), ATRL (5.75%), ENGRO (3.08%), and SHFA (7.50%). On the other hand, the stocks that emerged as net losers during the day included UPFL (4.00%), NESTLE (0.34%), ICI (1.95%), MUREB (2.42%), and GADT (2.91%).

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