PSX Closing Bell: Green Tide

February 14, 2024 (MLN): The benchmark KSE-100 index extended gains for a second day, gaining 926.92 points or 1.51% to end the session at 62,153.84.

The post-election losses have now been trimmed to 1,990 points or 3.1%.

The positive momentum comes amidst signs of clarity on the political front.

The index remained positive throughout the day, showing an intraday high of 62,432.26 (+1,205.33) and a low of 61,635.62 (408.69) points.

The total volume of the KSE-100 index was 179.31 million shares.

The market remained heavily skewed towards the upside, with 83 companies closing up and only 8 closing down.

While 4 companies were unchanged, and 5 remained untraded.

Yesterday, the index had plunged below the key 60,000 level, however, a strong buying spree pushed it back above 61,000 by the session's end.

All sectors ended the day in green, led by Oil & Gas Exploration Companies with 135.37, Fertilizer with 122.68, Oil & Gas Marketing Companies with 114.86, Commercial Banks with 112.13, and Technology & Communication with 79.05 points.

Companies adding points to the index were PPL with 124.01, ENGRO with 63.2, EFERT with 58.15, SYS with 52.18, and PSO with 46.36 points.

Meanwhile, companies that dragged the index lower were OGDC with 42.6, HUBC with 42.34, MEBL with 9.27, FFC with 8.73 and DGKC with 6.8 points.

In the broader market, the All-Share index closed at 41,876.85 with a net gain of 586.05 points.

Total market volume was 303.886 million shares compared to 435.550 from the previous session while traded value was recorded at Rs14.69 billion showing a decrease of Rs1.29bn.

There were 164,317 trades reported in 340 companies with 266 closing up, 55 closing down and 19 remaining unchanged.

To note, the KSE-100 has gained 20,701 points or 49.94% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of 297 points, equivalent to 0.48%.

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