January 02, 2024 (MLN): The trading began with strong bullish momentum from the previous session, with bulls pushing the index to its intraday high in the first five minutes.
However, bears made their debut in the new year, showing the dual nature of the market.
Moreover, the market sentiments were hurt by high and sticky inflation, which rose 29.7% YoY in December, hotter than what experts had anticipated.
At close, the benchmark KSE-100 index settled Tuesday's trading session at 64,349.60 showing a decrease of 312.18 points or 0.48%.
The index traded in a range of 1,120 points showing an intraday high of 65,333.70 (+671.92) and a low of 64,213.63 (-448.16) points.
The total volume of the KSE-100 index was 424.016 million shares.
Of the 100 index companies 27 closed up, 68 closed down, 3 were unchanged, while 2 remained untraded.
KSE-100 index was let down by Power Generation & Distribution with 74.5, Fertilizer with 44.39, Inv. Banks / Inv. Cos. / Securities Cos. with 35.07, Oil & Gas Marketing Companies with 32.09, and Technology & Communication with 31.44 points.
On the flip-side, the index was supported by Oil & Gas Exploration Companies with 32.63, Food & Personal Care Products with 16.86, Commercial Banks with 13.57, Cement with 5.41, and Synthetic & Rayon with 1.74 points.
Companies that dragged the index lower were HUBC with 45.55, MARI with 38.22, SYS with 35.32, ENGRO with 28.47 and LUCK with 28.22 points.
On the other hand, companies that added points to the index were PPL with 47.73, OGDC with 40.02, MEBL with 24.1, UNITY with 22.11, and PIOC with 17.27 points.
In the broader market, the All-Share index closed at 42,991.53 with a net loss of 233.20 points.
Total market volume was 671.665 million shares compared to 625.147 from the previous session while traded value was recorded at Rs24.45 billion showing an increase of Rs5.93bn.
There were 246,046 trades reported in 375 companies with 104 closing up, 250 closing down and 21 remaining unchanged.
| Company | Volume |
|---|---|
| KEL | 79,854,616 |
| WTL | 46,483,335 |
| BOP | 34,951,735 |
| PPL | 34,951,008 |
| FCCL | 30,470,000 |
| PTC | 27,349,500 |
| CNERGY | 24,936,156 |
| OGDC | 24,573,372 |
| FFL | 22,358,605 |
| PAEL | 21,742,600 |
To note, the KSE-100 has gained 22,897 points or 55.24% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,899 points, equivalent to 3.04%.
Copyright Mettis Link News
Posted on: 2024-01-02T16:22:19+05:00
