PSX Closing Bell: Glimmer Of Hope

September 04, 2023 (MLN): After a week of heavy losses, the local bourse recovered some ground today, as the benchmark KSE-100 Index rose by 394.77 points or 0.87% DoD to end the session at 45,707.43.

It is worth noting that the index had plunged by about 2,358 points or 4.95% last week.

The index remained positive throughout the session touching an intraday high of 45,788.74 (+476.08) points.

Total Volume of the KSE100 Index was 55.255 million shares.

This rebound in the market can be attributed to the optimistic developments stemming from Chief of Army Staff (COAS) General Asim Munir's recent engagement.

During a meeting with LCCI President Kashif Anwar and key business leaders on Sunday, General Asim highlighted the pivotal role played by the Special Investment Facilitation Council (SIFC).

He underscored the immense potential of the SIFC to draw substantial investments, estimated at up to $100 billion, from nations like Saudi Arabia, the UAE, Kuwait, and others.

Furthermore, Army Chief General Asim Munir assured business leaders that the currency exchange would be brought under the tax net, a move aimed at promoting transparency in dollar exchange rates and interbank rates.

Of the 100 index companies 73 closed up, 15 closed down, 5 were unchanged while 7 remained untraded.

KSE100 index was supported by Fertilizer with 86.34, Oil & Gas Exploration Companies with 56.99, Cement with 37.79, Power Generation & Distribution with 34.9 and Oil & Gas Marketing Companies with 30.6 points.

Companies adding points to the index were ENGRO with 54.42, HUBC with 33.72, PPL with 25.06, COLG with 21.77 and FFC with 20.25 points.

KSE100 Index was let down by Sugar & Allied Industries with 4.14, Automobile Assembler with 4.03, Close - End Mutual Fund with 0.76 and Cable & Electrical Goods with 0.12 points.

Companies dragging the index lower were BAFL with 12.29, INDU with 9.47, ARPL with 6.74, MCB with 4.87 and JDWS with 4.14 points.

In the broader market, the All-Share index closed at 30,454.17 with a net gain of 210.64 points.

Total market volume was 139.251 million shares compared to 161.825 from the previous session while traded value being recorded at 4.48 billion showing an increase of Rs.0.01 billion.

There was 87,137 trades reported in 311 companies with 187 closing up, 103 closing down and 21 remaining unchanged.

KSE-100 Historical Performance

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