PSX Closing Bell: Bullseye

December 06, 2023 (MLN): The Pakistan stock market shows no signs of slowing down, with its benchmark KSE-100 Index adding another 961.7 points or 1.53% to end today's session at another record high of 63,917.72.

The index remained positive throughout the day, showing an intraday high of 64,038.83 (+1,082.80) and a low of 63,188.72 (+232.69) points.

The total volume of the KSE-100 Index surged to 515.164 million shares.

Investors' confidence remains uplifted amid hopes of improved economic conditions following the expected inflows from IMF and friendly countries, relatively stable currency amid government-backed administrative efforts, and a possible slash in the interest rates.

Of the 100 index companies 60 closed up, 15 closed down, 1 was unchanged, while 24 remained untraded.

KSE-100 index was supported by Commercial Banks with 308.36, Oil & Gas Exploration Companies with 168.81, Technology & Communication with 148.62, Fertilizer with 54.32, and Cement with 52.98 points.

Companies adding points to the index were MEBL with 88.29, HBL with 85.95, TRG with 74.22, PPL with 73.33, and SYS with 65.82 points.

KSE-100 Index was let down by Tobacco with 21.24, Automobile Assembler with 7.89, Insurance with 5.93, Glass & Ceramics with 2.25, and Property with 0.31 points.

Companies dragging the index lower were PAKT with 21.24, AICL with 5.93, MTL with 5.86, MUREB with 3.37 and GHGL with 2.73 points.

In the broader market, the All-Share index closed at 42,533.31 with a net gain of 526.64 points.

Total market volume was 984.814 million shares compared to 765.418 from the previous session while traded value was recorded at Rs35.09 billion showing an increase of Rs4.24bn.

There were 326,248 trades reported in 383 companies with 258 closing up, 117 closing down and 8 remaining unchanged.

To note, the KSE-100 has gained 22,465 points or 54.19% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 23,497 points, equivalent to 58.13% in the KSE-100.

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