PSX Closing Bell: Green Lights All The Way

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By MG News | November 27, 2024 at 03:55 PM GMT+05:00

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November 27, 2024 (MLN): After experiencing its largest percentage drop of 2024 yesterday, the bulls reentered the market on Wednesday and demonstrated aggressive buying as concerns over protests and political uncertainty eased.

The benchmark KSE-100 index closed today’s green session at 99,269.25, posting a remarkable 4.94% gain, marking its highest daily gain in nearly 16 months.

In terms of index points, the index surged 4,695.09 points, recording its highest DoD points gain in history.

The index traded within a wide range, staying positive throughout the day, reaching an intraday high of 99,549.81 (+4,975.65 points) and a low of 97,188.27 (+2,614.11 points).

The total volume of the KSE-100 Index was 495.79 million shares.

Of the 100 index companies 93 closed up and 7 closed down.

Top gainers during the day were BOP (+14.60%), KEL (+10.75%), HBL (+10.00%), AKBL (+9.99%), and FFBL (+9.95%).

On the other hand, top losers were JVDC (-6.21%), PSEL (-5.73%), FABL (-4.31%), PGLC (-2.82%), and MEBL (-1.50%).

In terms of index-point contributions, companies that propped up the index were FFC (+622.36pts), HBL (+295.34pts), SYS (+224.96pts), BAHL (+210.89pts), and PPL (+195.27pts).

Meanwhile, companies that dragged the index lower were MEBL (-52.04pts), PSEL (-39.97pts), FABL (-25.22pts), JVDC (-14.81pts), and JDWS (-1.98pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+1112.55pts), Fertilizer (+1014.92pts), Oil & Gas Exploration Companies (+635.92pts), Cement (+459.61pts), and Technology & Communication (+287.06pts).

Meanwhile, only four sectors—Miscellaneous (-26.91pts), Property (-14.81pts), Sugar & Allied Industries (-1.98pts), and Leasing Companies (-0.10pts)—made minor negative contributions to the index.

In the broader market, the All-Share Index closed at 62,391.49 with a net gain of 2,607.03 points or 4.36%.

Total market volume was 1,057.10 million shares compared to 1,116.32m from the previous session while traded value was recorded at Rs39.56 billion showing a decrease of Rs3.74bn.

There were 351,438 trades reported in 450 companies with 354 closing up, 51 closing down, and 45 remaining unchanged.

Symbol Price Change % Volume

Top Ten by Volume

BOP 7.85 14.60% 114,966,225
HASCOL 12.59 -7.36% 106,286,630
KEL 5.15 10.75% 91,200,956
FFL 12.82 8.09% 54,248,949
BML 2.68 27.62% 37,218,539
PACE 6.34 9.12% 35,016,136
SSGC 24.88 9.99% 30,887,483
CNERGY 4.66 4.72% 29,932,157
WTL 1.35 4.65% 26,219,598
NBP 72.32 9.71% 22,606,441

 

To note, the KSE-100 has gained 20,824 points or 26.55% during the fiscal year, whereas it has increased 36,818 points or 58.96% so far this calendar year.

Furthermore, analysts expect the KSE-100 to rally above 120,000 by the end of next year on the back of improving macro indicators and falling bond yields which is flushing more liquidity in equities.

The positivity stems from the strong investor confidence, supported by positive macroeconomic indicators and falling bond yields, which drove the market’s bullish momentum.

Additionally, the future earnings multiple of the index remains significantly lower than its 10-year average, providing further justification that the target is likely to be achieved.

Copyright Mettis Link News

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Name Price/Vol %Chg/NChg
KSE100 132,576.99
161.03M
-0.62%
-826.20
ALLSHR 82,983.68
903.36M
-0.25%
-204.38
KSE30 40,358.80
56.86M
-0.72%
-292.66
KMI30 190,727.32
67.92M
-0.71%
-1356.60
KMIALLSHR 55,698.48
457.08M
-0.27%
-149.22
BKTi 36,242.06
11.15M
-0.50%
-180.82
OGTi 28,323.42
10.71M
-0.40%
-114.19
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 111,545.00 112,170.00
111,420.00
-700.00
-0.62%
BRENT CRUDE 70.19 70.22
69.91
0.00
0.00%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.45
1.51%
ROTTERDAM COAL MONTHLY 108.00 109.00
107.95
0.90
0.84%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.35 68.39
68.04
-0.03
-0.04%
SUGAR #11 WORLD 16.54 16.61
16.08
0.41
2.54%

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