PSX Closing Bell: Count Your Blessings

September 18, 2024 (MLN): Pakistani stocks surged on Wednesday as key economic data reports showed improvements on the economic front.

The benchmark KSE-100 Index concluded Wednesday's trading session at 80,461.33, showing an increase of 970.20 points or 1.22%.

The country's current account posted a surplus of $75 million after three consecutive monthly deficits.

Moreover, the cash-strapped nation attracted $214m Foreign Direct Investment (FDI) in August, up 50.7% compared to the same period last year (SPLY). The country also received $165m through Roshan Digital Accounts (RDA) during the month.

The index remained positive throughout the day showing an intraday high of 80,587.44 (+1,096.31) and a low of 79,798.75 (+307.62) points.

The total volume of the KSE-100 Index was 148.58 million shares.

Of the 100 index companies 58 closed up, 37 closed down, while 5 were unchanged.

Top gainers during the day were TRG (+10.01%), MARI (+10.00%), NCPL (+4.33%), PSEL (+4.17%), and PKGP (+4.11%).

On the other hand, top losers were INIL (-4.09%), THALL (-3.86%), PGLC (-3.85%), CNERGY (-3.12%), and ISL (-2.63%).

In terms of index-point contributions, companies that propped up the index were MARI (+321.92pts), EFERT (+127.65pts), UBL (+90.60pts), MEBL (+73.48pts), and FFC (+69.70pts).

Meanwhile, companies that dragged the index lower were BAHL (-31.35pts), THALL (-18.94pts), COLG (-15.04pts), DAWH (-14.01pts), and INIL (-13.03pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+407.01pts), Fertilizer (+207.78pts), Commercial Banks (+178.13pts), Technology & Communication (+74.99pts), and Power Generation & Distribution (+56.55pts).

While the index was let down by Engineering (-25.97pts), Food & Personal Care Products (-22.57pts), Automobile Parts & Accessories (-18.94pts), Refinery (-10.86pts), and Glass & Ceramics (-6.33pts).

In the broader market, the All-Share Index closed at 51,675.01 with a net gain of 431.96 points or 0.84%.

Total market volume was 400.20 million shares compared to 536.19m from the previous session while traded value was recorded at Rs15.90 billion showing an increase of Rs6.99bn.

There were 216,036 trades reported in 438 companies with 186 closing up, 198 closing down, and 54 remaining unchanged.

To note, the KSE-100 has gained 2,016 points or 2.57% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 18,010 points, equivalent to 28.84%.

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