PSX Closing Bell: Beautiful Day

May 11, 2023 (MLN): The capital market on Thursday snapped the losing streak as the benchmark KSE-100 Index managed to gain 250.68 points to close at 41,325.63, marking an intraday high of 41,498.63.

The index turned green after witnessing the blood bath for two consecutive sessions as the positive sentiments mainly stemmed from the IMF's fresh statement, saying that the fund remains engaged with Pakistan on
securing funding and policy assurances with the goal of reaching an agreement. 

Investors are now hopeful that the IMF agreement will be signed in days to come.

Of the 88 traded companies in the KSE100 Index 63 closed up 22 closed down, while 3 remained unchanged. The total volume traded for the index was 38.58 million shares.

Sectors propping up the index were Cement with 63 points, Oil & Gas Exploration Companies with 49 points, Commercial Banks with 42 points, Fertilizers with 32 points and Technology & Communication with 23 points.

The most points added to the index was by LUCK which contributed 40 points followed by HBL with 28 points, POL with 25 points, ENGRO and PKGS with 20 points.

Sector-wise the index was let down by Property with 8 points, Glass & Ceramics and Leather & Tanneries with 2 points and Food & Personal Care Products with 1 point.

The most points taken off the index was by MEBL which stripped the index of 9 points followed by JVDC and HMB with 8 points, NESTLE with 6 points and LCI with 3 points.

All Share Volume decreased by 2.33mn to 96.85mn shares. Market Cap increased by Rs26.80 billion.

The total number of companies traded was 301 compared to 313 from the previous session. Of the scrips traded 180 closed up, 96 closed down while 25 remained unchanged.

Total trades decreased by 3,326 to 55,023.

Value Traded decreased by 0.41bn to Rs2.89bn.

Copyright Mettis Link News