PSX Closing Bell: Chundrigar Cha-Cha

December 11, 2023 (MLN): The benchmark index of the Pakistan stock market experienced a volatile session on Monday, swinging in a wide range of 1,435 points between 66,564 (+340.41) and 65,129 (-1,094.63) points.

The market remained directionless, caught in a battle between bulls and bears, as participants await tomorrow's MPC decision to determine the next direction of the market. 

The trading started off the week on a slightly bullish note, setting the day's high within the first 30 minutes of trading.

However, bears quickly pulled it down to as low as 65,129 before ultimately closing the session at 66,012.33, showing a decrease of 211.31 points or 0.32%.

The total volume of the KSE-100 index was 613.393 million shares.

Of the 100 index companies 32 closed up, 59 closed down, while 9 remained untraded.

KSE-100 index was let down by Commercial Banks with 254.08, Power Generation & Distribution with 100.29, Oil & Gas Marketing Companies with 69.72, Cement with 63.99, and Refinery with 44.98 points.

On the flip-side, the index was supported by Fertilizer with 220.2, Technology & Communication with 77.15, Oil & Gas Exploration Companies with 69.3, Leather & Tanneries with 17.79, and Inv. Banks / Inv. Cos. / Securities Cos. with 11.34 points.

Companies that dragged the index lower were HUBC with 113.01, HBL with 88.98, MEBL with 72.12, PSO with 67.22 and UBL with 54.51 points.

On the other hand, companies that added points to the index were FFC with 90.83, MARI with 82.06, EFERT with 71.62, TRG with 57.55, and ENGRO with 47.77 points.

In the broader market, the All-Share index closed at 43,716.49 with a net loss of 165.04 points.

Total market volume was 1,215.932 million shares compared to 1,329.550 from the previous session while traded value was recorded at Rs33.42 billion showing an increase of Rs0.05bn.

There were 325,295 trades reported in 386 companies with 159 closing up, 224 closing down and 3 remaining unchanged.

To note, the KSE-100 has gained 24,560 points or 59.25% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 25,592 points, equivalent to 63.31% in the KSE-100.

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