PSX Closing Bell: Bulls on Parade

March 03, 2023 (MLN): The local stock market started off on a negative note, but soon saw a change in fortunes as the bulls took over, driving the index to an intraday high of 688.23 points.

Investors were thrilled with the news a staff-level agreement was expected to be reached in the coming week adding to the positive sentiment as the central bank hiked the interest rate to tick off one more condition of the IMF. 

Accordingly, the benchmark KSE-100 index ended the trading session on Friday with a 666.12 points or 1.64% gain to close at 41,337.00.

The Index traded in a range of 874.29 points or 2.15 percent of the previous close, showing an intraday high of 41,361.64 and a low of 40,487.35.

Of the 98 traded companies in the KSE100 Index 77 closed up 16 closed down, and 5 remained unchanged. The total volume traded for the index was 110.68 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 205 points, Commercial Banks with 93 points, Miscellaneous with 78 points, Technology & Communication with 73 points, and Oil & Gas Marketing Companies with 69 points.

The most points added to the index were by OGDC which contributed 104 points followed by PPL with 83 points, PSEL with 79 points, SYS with 50 points, and PSO with 45 points.

Sector-wise, the index was let down by Tobacco and Fertilizer with 15 points each, Property with 10 points, Food & Personal Care Products with 5 points, and Sugar & Allied Industries with 4 points.

The most points taken off the index was by ENGRO which stripped the index of 26 points followed by PAKT with 15 points, UPFL with 14 points, JVDC with 10 points, and POL with 7 points.

All Share Volume increased by 42.65mn to 194.82mn shares. Market Cap increased by Rs79.20 billion.

The total companies traded were 342 compared to 313 from the previous session. Of the scrips traded 221 closed up, 93 closed down and 28 remained unchanged.

Total trades increased by 15,944 to 100,771.

Value Traded decreased by 0.38bn to Rs7.77bn

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