PSX Closing Bell: Fool's Hope

April 29, 2024 (MLN): The benchmark KSE-100 index plummeted 1,047.71 points or 1.44% to conclude Monday's trading session at 71,695.03.

Investors remained cautious ahead of the key MPC meeting later today, wherein experts are divided on the appropriate stance for the central bank.

The index traded in a range of 1,697.81 points showing an intraday high of 73,300.75 (+558.01) and a low of 71,602.94 (-1139.81) points.

The total volume of the KSE-100 index was 281.03 million shares.

Of the 100 index companies 24 closed up, 74 closed down, 1 was unchanged, while 1 remained untraded.

KSE-100 index was let down by Commercial Banks (217.4pts), Fertilizer (167.79pts), Power Generation & Distribution (151.63pts), Oil & Gas Exploration Companies (147.61pts), and Cement (116.95pts).

On the flip-side, the index was supported by Cable & Electrical Goods (3.37pts), Insurance (3.05pts), Leather & Tanneries (1.78pts), Real Estate Investment Trust (1.22pts), and Transport (0.51pts).

Companies that dragged the index lower were HUBC (149.95pts), EFERT (130.8pts), OGDC (59.46pts), FFC (55.03pts), and LUCK (47.25pts).

On the other hand, companies that added points to the index were FFBL (26.16pts), NATF (20.39pts), HINOON (13.33pts), INDU (12.79pts), and AVN (8.66pts).

In the broader market, the All-Share index closed at 46,910.55 with a net loss of 578.92 points.

Total market volume was 613.31 million shares compared to 541.14m from the previous session while traded value was recorded at Rs26.31 billion showing an increase of Rs3.68bn.

There were 271,752 trades reported in 383 companies with 131 closing up, 231 closing down and 21 remaining unchanged.

To note, the KSE-100 has gained 30,242 points or 72.96% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 9,244 points, equivalent to 14.8%.

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