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PSX Closing Bell: Dramatic Recovery

PSX Closing Bell: Dramatic Recovery
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June 07, 2024 (MLN): Pakistan stocks staged a dramatic recovery on Friday, erasing most of the heavy losses seen right after the opening bell.

Within the first hour of trading, bearish continued their selling, pushing the index as much as 2,081 points below the previous close.

By the end of the session, the benchmark KSE-100 index closed at 73,754, down just 108.9 points, or 0.15%.

The index traded in a wide range of 2,120.82 points showing an intraday high of 73,902.79 (+39.85) and a low of 71,781.96 (-2,080.97) points.

The total volume of the KSE-100 index was 208.56 million shares.

Read: Intraday Report: KSE-100 index in deep red

Of the 100 index companies 40 closed up, 53 closed down, 5 were unchanged, while 2 remained untraded.

KSE-100 index was let down by Commercial Banks (240.44pts), Oil & Gas Exploration Companies (93.11pts), Food & Personal Care Products (34.48pts), Oil & Gas Marketing Companies (26.9pts), and Refinery (17.66pts).

On the flip-side, the index was supported by Cement (75.79pts), Fertilizer (63.33pts), Pharmaceuticals (55.84pts), Engineering (44.74pts), and Automobile Assembler (37.61pts).

Companies that dragged the index lower were MEBL (127pts), PPL (53.16pts), HBL (36.79pts), MCB (30.89pts), and OGDC (27.93pts).

On the other hand, companies that added points to the index were FFC (68.15pts), MTL (44.81pts), SYS (29.2pts), SEARL (24.84pts), and DGKC (23.57pts).

In the broader market, the All-Share index closed at 47,464.93 with a net loss of 205.67 points.

Total market volume was 352.74 million shares compared to 352.74m from the previous session while traded value was recorded at Rs12.31 billion showing an increase of Rs7.87bn.

There were 191,137 trades reported in 449 companies with 134 closing up, 248 closing down and 67 remaining unchanged.

Company Volume

Top Ten by Volume

PASL 78,926,466
FCCL 34,397,313
WTL 28,267,820
SEARL 23,341,177
KEL 21,678,004
PRL 13,189,620
PIAHCLA 13,070,215
HUMNL 12,922,024
BOP 10,547,974
KOSM 10,270,730

To note, the KSE-100 has gained 32,301 points or 77.92% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 11,303 points, equivalent to 18.1%.

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Posted on: 2024-06-07T17:21:03+05:00