PSX Closing Bell: Built to Last

April 24, 2024 (MLN): The benchmark KSE-100 index closed Wednesday's trading session at 72,051.89 showing an increase of 692.49 points or 0.97%.

The index remained positive throughout the day, showing an intraday high of 72,414.33 (+1054.92) and a low of 71,467.02 (+107.61) points.

The total volume of the KSE-100 index was 324.513 million shares.

The positivity comes amid improved economic conditions, with the country posting the highest monthly current account surplus in 9 years.

Moreover, Federal Minister for Finance Muhammad Aurangzeb said on Tuesday that he expected the foreign exchange reserves held by the State Bank of Pakistan (SBP) to rise to around $9-10 billion by the end of current fiscal year.

Meanwhile, Investors are closely monitoring the crucial Monetary Policy Meeting next week, which will offer more clarity for the market.

Of the 100 index companies 69 closed up, 27 closed down, while 4 were unchanged.

KSE-100 index was supported by Cement with 154.63, Automobile Assembler with 119.22, Power Generation & Distribution with 95.04, Fertilizer with 78.85, and Technology & Communication with 69.18 points.

On the contrary, the index was let down by Tobacco with 28.74, Miscellaneous with 16.25, Refinery with 10.84, Cable & Electrical Goods with 6.43, and Property with 3.67 points.

Companies adding points to the index were MTL with 119.05, LUCK with 92.72, HUBC with 84.02, HBL with 41.49, and SYS with 32.16 points.

Meanwhile, companies that dragged the index lower were MEBL with 34.75, PAKT with 28.74, PSEL with 21.25, HMB with 20.07 and PTC with 6.87 points.

In the broader market, the All-Share index closed at 47,172.82 with a net gain of 306.94 points.

Total market volume was 599.402 million shares compared to 655.936 from the previous session while traded value was recorded at Rs24.46 billion showing a decrease of Rs0.03bn.

There were 258,736 trades reported in 380 companies with 216 closing up, 139 closing down and 25 remaining unchanged.

To note, the KSE-100 has gained 30,599 points or 73.82% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 9,601 points, equivalent to 15.37%.

Copyright Mettis Link News