PSX Closing Bell: Catching a break

September 01, 2023 (MLN): After a five-day losing streak, the benchmark KSE-100 Index recovered some ground and ended the week at 45,312.66, up by 310.24 points or 0.69% on a daily basis.

However, the index still registered a weekly loss of 2,358.56 points or 4.95%.

In today's session, the index traded in a range of 562.47 points showing an intraday high of 45,358.28 (+355.86) and a low of 44,795.81 (-206.61) points.

Total Volume of the KSE100 Index was 55.691 million shares.

Market participants were closely monitoring the August CPI data which showed a 1.7% MoM increase and a 27.4% YoY increase, this data will be pivotal for the next Monetary Policy Committee (MPC) meeting on September 14.

This increase on a sequential basis reflects the persistent inflationary pressures in the economy.

Many experts anticipate a rate hike as a potential response to the challenging economic conditions.

Of the 100 index companies 67 closed up, 21 closed down, 3 were unchanged while 9 remained untraded.

KSE100 index was supported by Oil & Gas Exploration Companies with 111.14, Commercial Banks with 66.49, Power Generation & Distribution with 55.94, Automobile Assembler with 34.69 and Food & Personal Care Products with 15.14 points.

Companies adding points to the index were HUBC with 49.53, POL with 38.89, UBL with 35.86, PPL with 29.42 and OGDC with 27.86 points.

KSE100 Index was let down by Inv. Banks / Inv. Cos. / Securities Cos. with 19.03, Cement with 12.28, Automobile Parts & Accessories with 12.23, Technology & Communication with 5.0 and Leather & Tanneries with 1.68 points.

Companies dragging the index lower were DAWH with 18.89, LUCK with 15.94, MEBL with 15.23, TRG with 12.45 and THALL with 12.23 points.

In the broader market, the All-Share index closed at 30,243.53 with a net gain of 201.56 points.

Total market volume was 161.825 million shares compared to 287.356 from the previous session while traded value being recorded at 4.46 billion showing a decrease of Rs.7.84 billion.

There was 88,015 trades reported in 290 companies with 196 closing up, 77 closing down and 17 remaining unchanged.

More on the economic front, the Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.55% WoW and 24.39% YoY during the week ended August 31, 2023, reflecting the persistent inflationary pressures in the economy.

Additionally, the price of petrol was once again hiked by a staggering Rs 14.91, breaching the Rs305 mark for the first time in Pakistan’s history,

KSE-100 Historical Performance

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