PSX Closing Bell: Flat Tire

September 05, 2024 (MLN): The benchmark KSE-100 Index concluded Thursday's trading session almost flat at 78,863.34, showing a marginal increase of 15.33 points or 0.02%.

The index traded in a range of 576.28 points showing an intraday high of 79,154.29 (+306.28) and a low of 78,578.01 (-270.00) points.

The total volume of the KSE-100 Index was 132.20 million shares.

Of the 100 index companies 29 closed up, 69 closed down, 1 was unchanged, while 1 remained untraded.

Top gainers during the day were KOHC (+10.00%), SHFA (+5.79%), SCBPL (+3.37%), FABL (+3.26%), and UBL (+3.19%).

Kohat Cement Limited (KOHC) recorded over a five times increase in its profit during the April-June quarter led by an improvement in gross margins, a surge in its other income, and a significantly lower tax rate.

The board also recommended a buy-back of up to 12 million of its own issued ordinary shares, to be funded from the company’s distributable profits or reserves.

On the other hand, top losers were YOUW (-8.46%), SRVI (-4.24%), FCEPL (-3.70%), HGFA (-2.62%), and PIBTL (-2.61%).

In terms of index-point contributions, companies that propped up the index were UBL (+126.90pts), KOHC (+49.57pts), MCB (+28.24pts), HMB (+25.14pts), and FFC (+24.27pts).

Meanwhile, companies that dragged the index lower were MARI (-43.44pts), SRVI (-30.11pts), BAHL (-27.98pts), HUBC (-27.18pts), and HBL (-26.95pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+126.07pts), Fertilizer (+56.48pts), Cement (+40.64pts), Automobile Parts & Accessories (+5.85pts), and Technology & Communication (+5.50pts).

While the index was let down by Oil & Gas Exploration Companies (-59.34pts), Power Generation & Distribution (-37.79pts), Leather & Tanneries (-30.11pts), Oil & Gas Marketing Companies (-19.20pts), and Automobile Assembler (-15.37pts).

In the broader market, the All-Share Index closed at 50,743.00 with a net gain of 36.06 points or 0.07%.

Total market volume was 770.52 million shares compared to 969.77m from the previous session while traded value was recorded at Rs14.29 billion showing a decrease of Rs3.22bn.

There were 256,472 trades reported in 443 companies with 147 closing up, 252 closing down, and 44 remaining unchanged.

To note, the KSE-100 has gained 418 points or 0.53% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,412 points, equivalent to 26.28%.

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