PSX Closing Bell: Black Gold

September 28, 2023 (MLN): The Pakistan Stock Exchange (PSX) ended the shortened trading week on a negative note, as investors remained cautious amid rising global oil prices and a lack of positive triggers.

KSE-100 index, the key benchmark for PSX, closed Thursday's trading session at 46,232.59 showing a decrease of 132.45 points or 0.29% DoD.

Global oil prices surged to their highest level since August 2022, with the U.S. benchmark oil price surging to $95 per barrel.

The cumulative gain in just the last 3 months is now around 40%, significantly adding to concerns that inflation would remain elevated in Pakistan, which is a net oil importer.

The index traded in a range of 292.10 points showing an intraday high of 46,469.60 (+104.56) and a low of 46,177.50 (-187.54) points.

The total volume of the KSE-100 Index was 80.528 million shares.

On a weekly basis, the KSE-100 index lost 161.09 points or 0.35%, while it gained 1,230.17 points or 2.73% in the month of September.

Of the 100 index companies 30 closed up, 60 closed down, 4 were unchanged, while 6 remained untraded.

KSE-100 Index was let down by Technology & Communication with 115.38, Commercial Banks with 44.76, Fertilizer with 14.98, Textile Composite with 9.82, and Inv. Banks / Inv. Cos. / Securities Cos. with 6.83 points.

Companies dragging the index lower were SYS with 87.54, OGDC with 25.28, TRG with 24.37, MEBL with 15.84 and FFC with 8.94 points.

KSE-100 index was supported by Power Generation & Distribution with 16.93, Oil & Gas Exploration Companies with 9.23, Refinery with 7.79, Cement with 7.58, and Pharmaceuticals with 6.34 points.

Companies adding points to the index were POL with 38.7, HUBC with 21.46, LUCK with 12, HINOON with 8.76, and ATRL with 5.76 points.

In the broader market, the All-Share index closed at 31,158.71 with a net loss of 91.29 points.

Total market volume was 177.617 million shares compared to 177.497 from the previous session while traded value was recorded at Rs6.93 billion.

There were 110,447 trades reported in 326 companies with 121 closing up, 183 closing down and 22 remaining unchanged.

To note, the KSE-100 has gained 4,780 points or 11.53% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 5,812 points, equivalent to 14.38% in the KSE-100.

KSE-100 Historical Performance

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