PSX Closing Bell: Go Go Go!

November 18, 2024 (MLN): The benchmark KSE-100 Index concluded Monday's trading session at 94,995.67, showing an increase of 232.03 points or 0.24%.

The index traded in a range of 687.47 points showing an intraday high of 95,307.91 (+544.27) and a low of 94,620.44 (-143.20) points.

The total volume of the KSE-100 Index was 277.31 million shares.

According to analysts, stocks are expected to rally further by at least 26% by the end of next year on the back of improving macro indicators and falling bond yields which is flushing more liquidity in equities.

In economic news, the country's current account turned to a surplus of $218 million in 4MFY25, compared to the deficit of $1.53 billion in 4MFY24.

The external account position improved largely due to home remittances despite an upsurge in imports.

During today's trading session, of the 100 index companies 44 closed up, 54 closed down, 1 was unchanged, while 1 remained untraded.

Top gainers during the day were EFUG (+9.09%), PSX (+9.07%), PSEL (+7.98%), PTC (+6.44%), and PKGS (+5.66%).

On the other hand, top losers were PKGP (-3.98%), UNITY (-3.23%), BNWM (-2.67%), FCEPL (-2.04%), and PGLC (-1.83%).

In terms of index-point contributions, companies that propped up the index were FFC (+114.40pts), HBL (+85.61pts), PSEL (+47.48pts), SNGP (+42.39pts), and LUCK (+37.65pts).

Meanwhile, companies that dragged the index lower were UBL (-66.03pts), EFERT (-54.80pts), HUBC (-42.78pts), SYS (-32.86pts), and MCB (-27.56pts).

Sector-wise, KSE-100 Index was supported by Fertilizer (+96.80pts), Oil & Gas Exploration Companies (+79.54pts), Miscellaneous (+47.42pts), Cement (+45.39pts), and Oil & Gas Marketing Companies (+42.86pts).

While the index was let down by Commercial Banks (-61.50pts), Power Generation & Distribution (-51.31pts), Technology & Communication (-16.58pts), Automobile Parts & Accessories (-8.41pts), and Engineering (-6.61pts).

In the broader market, the All-Share Index closed at 60,711.07 with a net gain of 132.31 points or 0.22%.

Total market volume was 765.21 million shares compared to 893.17m from the previous session while traded value was recorded at Rs23.92 billion showing a decrease of Rs6.89bn.

There were 313,996 trades reported in 456 companies with 192 closing up, 219 closing down, and 45 remaining unchanged.

To note, the KSE-100 has gained 16,551 points or 21.10% during the fiscal year, whereas it has increased 32,545 points or 52.11% so far this calendar year.

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