PSX Closing Bell: For a few Dollars more

May 18, 2022 (MLN): After witnessing a rough patch, bulls in the capital market made a comeback on Wednesday as the benchmark KSE100 index settled the trading session with a gain of 300.82 points or 0.70% DoD to close at 43,026.88.

In the backdrop of the coalition government’s decision to rule till August 2023, the trading floor remained positive most of the time.

Meanwhile, investors remained hopeful as the talks on the resumption of the IMF program started at the staff level.

In addition, the US offered strong support to provide economic relief to Pakistan, a post-market note by Pearl Securities highlighted.

However, the rupee continues to lose value closing at a historic low of $198.39 with higher international oil prices.

The index traded in a range of 652.92 points or 1.53 percent of the previous close, showing an intraday high of 43,161.22 and a low of 42,508.30.

Of the 91 traded companies in the KSE100 Index 65 closed up 24 closed down, while 2 remained unchanged. The total volume traded for the index was 117.99 million shares.

Sectors propping up the index were Cement with 58 points, Technology & Communication with 55 points, Fertilizer with 38 points, Power Generation & Distribution with 33 points and Food & Personal Care Products with 27 points.

The most points added to the index were by LUCK which contributed 28 points followed by HUBC with 26 points, TRG with 24 points, FFC with 24 points and EFERT with 18 points.

Sector-wise, the index was let down by Inv. Banks / Inv. Cos. / Securities Cos. with 11 points, Oil & Gas Exploration Companies with 9 points, Chemical with 6 points, Refinery with 4 points and Insurance with 3 points.

The most points taken off the index was by DAWH which stripped the index of 16 points followed by ENGRO with 12 points, MCB with 12 points, UBL with 8 points and MARI with 7 points.

All share volume increased by 80.89 million to 278.80 million shares. Market Cap increased by Rs42.58 billion.

Total companies traded were 345 compared to 326 from the previous session. Of the scrips traded 245 closed up, 83 closed down while 17 remained unchanged.

Total trades increased by 27,884 to 114,647.

Value Traded increased by 0.73 billion to Rs6.91 billion

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