PSX Closing Bell: Fertile Ground

October 03, 2024 (MLN): Pakistan stocks jumped on Thursday largely driven by index heavyweight Fauji Fertilizer. The benchmark KSE-100 Index closed at a new record of 82,721.76, an increase of 754.76 points or 0.92%.

Fauji Fertilizer's stock surged to a fresh record on Thursday, with its shares rising 8.2% to Rs243.53

Market sentiments were also boosted after the government slashed treasury yields to the lowest since early 2022 in yesterday's auction.

KSE-100 remained positive throughout the day showing an intraday high of 82,958.73 (+991.73) and a low of 81,981.50 (+14.50) points.

The total volume of the KSE-100 Index was 159.63 million shares.

Of the 100 index companies 55 closed up, 42 closed down, 2 were unchanged, while 1 remained untraded.

Top gainers during the day were FFC (+8.22%), NML (+6.93%), FFBL (+5.98%), SRVI (+4.72%), and PIBTL (+4.04%).

On the other hand, top losers were MARI (-4.91%), TRG (-3.95%), KOSM (-3.71%), ATRL (-3.27%), and KEL (-2.36%).

In terms of index-point contributions, companies that propped up the index were FFC (+413.46pts), EFERT (+63.91pts), PPL (+54.84pts), BAFL (+44.20pts), and FFBL (+43.02pts).

Meanwhile, companies that dragged the index lower were MARI (-164.67pts), TRG (-23.17pts), MCB (-20.53pts), ATRL (-14.55pts), and NBP (-8.46pts).

Sector-wise, KSE-100 Index was supported by Fertilizer (+551.49pts), Commercial Banks (+79.68pts), Cement (+67.63pts), Leather & Tanneries (+40.00pts), and Inv. Banks / Inv. Cos. / Securities Cos. (+30.50pts).

While the index was let down by Oil & Gas Exploration Companies (-44.15pts), Power Generation & Distribution (-19.59pts), Refinery (-17.25pts), Technology & Communication (-9.52pts), and Pharmaceuticals (-9.19pts).

In the broader market, the All-Share Index closed at 52,565.66 with a net gain of 243.43 points or 0.47%.

Total market volume was 319.88 million shares compared to 360.99m from the previous session while traded value was recorded at Rs16.41 billion showing an increase of Rs1.02bn.

There were 191,672 trades reported in 448 companies with 207 closing up, 185 closing down, and 56 remaining unchanged.

To note, the KSE-100 has gained 4,277 points or 5.45% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 20,271 points, equivalent to 32.46%.

Copyright Mettis Link News