PSX Closing Bell: Can't Stop, Won't Stop

November 08, 2023 (MLN): The Pakistan stock market resumed its bullish momentum after a brief dip in the previous session.

The benchmark KSE-100 index surged by 525.70 points or 0.98% to close the session at another all-time high of 54,261.43.

To note, the index saw a correction yesterday, shedding as much as 600 points from intraday highs.

The index traded in a range of 699.19 points showing an intraday high of 54,419.65 (+683.92) and a low of 53,720.46 (-15.27) points.

The total volume of the KSE-100 Index was 259.131 million shares.

Of the 100 index companies 75 closed up, 21 closed down, while 4 were unchanged.

KSE-100 index was supported by Commercial Banks with 186.16, Power Generation & Distribution with 69.94, Fertilizer with 65.37, Oil & Gas Exploration Companies with 55.71, and Cement with 51.76 points.

Companies adding points to the index were HUBC with 51.02, ENGRO with 46.44, MEBL with 40.72, HBL with 35.93, and MTL with 33.65 points.

KSE-100 Index was let down by Technology & Communication with 14.91, Cable & Electrical Goods with 4.67, Pharmaceuticals with 2.8, Transport with 0.73, and Automobile Parts & Accessories with 0.25 points.

Companies dragging the index lower were INDU with 24.52, TRG with 23.26, PAEL with 4.67, ILP with 4.25 and ABOT with 3.44 points.

In the broader market, the All-Share index closed at 36,146.66 with a net gain of 335.30 points.

The All-Share index is now also close to its all-time high closing of 36,240 points.

Total market volume was 482.745 million shares compared to 506.075 from the previous session while traded value was recorded at Rs20.13 billion showing an increase of Rs1.87bn.

To note, this was the highest traded volume recorded since November 30, 2021 (in rupees).

There were 177,033 trades reported in 371 companies with 233 closing up, 116 closing down and 22 remaining unchanged.

To note, the KSE-100 has gained 12,809 points or 30.9% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 13,841 points, equivalent to 34.24% in the KSE-100.

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