January 23, 2024 (MLN): Pakistan stock market extended its gains from yesterday as market prepares for the start of earnings season, with traders anticipating positive results.
The benchmark KSE-100 index closed Tuesday's trading session at 64,454.22 showing an increase of 514.81 points or 0.81%.
The index traded in a range of 1,108.56 points showing an intraday high of 64,658.17 (+718.76) and a low of 63,549.61 (-389.81) points.
The total volume of the KSE-100 index was 261.113 million shares.
Of the 100 index companies 65 closed up, 26 closed down, 4 were unchanged, while 5 remained untraded.
KSE-100 index was supported by Commercial Banks with 212.27, Fertilizer with 149.56, Technology & Communication with 29.51, Refinery with 29.01, and Oil & Gas Exploration Companies with 28.46 points.
On the contrary, the index was let down by Oil & Gas Marketing Companies with 30.53, Automobile Assembler with 14.6, Synthetic & Rayon with 13.68, Power Generation & Distribution with 13.29, and Chemical with 5.13 points.
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Companies adding points to the index were EFERT with 93.44, BAHL with 62.54, MARI with 59.98, OGDC with 58.2, and MEBL with 45.7 points.
Meanwhile, companies that dragged the index lower were PPL with 88.06, LUCK with 24.91, PSO with 24.19, SYS with 16.56 and MTL with 14.65 points.
In the broader market, the All-Share index closed at 43,461.63 with a net gain of 243.73 points.
Total market volume rose to 425.710 million shares compared to 298.699 from the previous session while traded value was recorded at Rs25.00 billion showing an increase of Rs12.48bn.
There were 202,287 trades reported in 35 companies with 209 closing up, 127 closing down and 18 remaining unchanged.
| Company | Volume |
|---|---|
| OGDC | 52,947,125 |
| FFL | 44,935,382 |
| KEL | 28,442,175 |
| PPL | 27,788,195 |
| PIAA | 22,586,000 |
| CNERGY | 18,265,471 |
| PTC | 18,157,298 |
| PRL | 17,874,942 |
| FFBL | 11,906,894 |
| PSO | 10,159,241 |
Fauji Foods Limited (PSX: FFL) reported its profit and loss statement today, wherein the profit after tax clocked in at Rs605.11 million [EPS: Rs0.26] compared to a loss of Rs2.17 billion [LPS: Rs1.37] recorded in the same period last year (SPLY).
The company sustained profitability for the past 9 months, attributed to margin accretive growth, reduction in cost of goods sold, and capability development.
To note, the KSE-100 has gained 23,002 points or 55.49% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,003 points, equivalent to 3.21%.
Copyright Mettis Link News
Posted on: 2024-01-23T16:20:53+05:00
