PSX Closing Bell: Don't Let Me Fall

November 29, 2023 (MLN): The benchmark KSE-100 Index showed some correction today after seven straight sessions of gains, concluding Wednesday's trading session at 60,502 showing a decrease of 228.27 points or 0.38%.

The day kicked off with another rally, leading the index beyond the 61,000 mark for the first time in history.

However, after around an hour of trading, selling pressure eroded the gains and kept the index in red for the rest of the session.

The index traded in a wide range of 1,227.66 points showing an intraday high of 61,555.84 (+825.57) and a low of 60,328.18 (-402.09) points.

The total volume of the KSE-100 Index was 343.522 million shares.

Of the 100 index companies 25 closed up, 55 closed down, 1 was unchanged, while 19 remained untraded.

KSE-100 Index was let down by Commercial Banks with 112, Textile Composite with 42.55, Pharmaceuticals with 41.84, Power Generation & Distribution with 36.92, and Oil & Gas Exploration Companies with 32.23 points.

Companies dragging the index lower were HBL with 63.53, MEBL with 35.04, HUBC with 28.92, ILP with 26.86 and SEARL with 25.75 points.

KSE-100 index was supported by Automobile Assembler with 42.73, Miscellaneous with 24.76, Inv. Banks / Inv. Cos. / Securities Cos. with 23.16, Tobacco with 12.84, and Refinery with 12.41 points.

Companies adding points to the index were MTL with 36.28, PSEL with 22.68, ENGRO with 17.01, MCB with 16.48, and DGKC with 16.01 points.

In the broader market, the All-Share index closed at 40,272.25 with a net loss of 128.80 points.

Total market volume was 692.220 million shares compared to 779.671 from the previous session while traded value was recorded at Rs27.04 billion showing an increase of Rs0.90bn.

There were 281,820 trades reported in 384 companies with 141 closing up, 230 closing down and 13 remaining unchanged.

To note, the KSE-100 has gained 19,049 points or 45.95% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 20,082 points, equivalent to 49.68% in the KSE-100.

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