PSX Closing Bell: Hold Tight

January 09, 2024 (MLN): Despite a bullish start to today’s session, selling pressure persisted throughout the day, with the benchmark KSE-100 index concluding Tuesday's trading session at 64,170.58 showing a decrease of 66.45 points or 0.1%.

The index traded in a range of 908.13 points showing an intraday high of 64,786.35 (+549.33) and a low of 63,878.22 (-358.81) points.

The total volume of the KSE-100 index was 253.614 million shares.

Of the 100 index companies 35 closed up, 57 closed down, 3 were unchanged, while 5 remained untraded.

KSE-100 index was let down by Technology & Communication with 39.33, Cement with 24.27, Oil & Gas Exploration Companies with 21.47, Miscellaneous with 19.26, and Commercial Banks with 18.45 points.

On the flip-side, the index was supported by Fertilizer with 65.59, Automobile Assembler with 15.29, Inv. Banks / Inv. Cos. / Securities Cos. with 11.93, Food & Personal Care Products with 7.73, and Cable & Electrical Goods with 7.68 points.

Companies that dragged the index lower were SYS with 20.92, PSEL with 20.74, MEBL with 18.93, OGDC with 17.07 and HBL with 13.92 points.

On the other hand, companies that added points to the index were EFERT with 35.08, ENGRO with 34.35, BAHL with 27.02, INDU with 22.61, and NATF with 12.8 points.

It is worth noting that EFERT and ENGRO were the two largest positive contributors today, which comes just after Topline Securities released its report to reiterate Engro's buy rating.

In the broader market, the All-Share index closed at 43,134.62 with a net gain of 18.28 points.

Total market volume was 448.991 million shares compared to 484.013 from the previous session while traded value was recorded at Rs12.28 billion showing a decrease of Rs0.46bn.

There were 177,100 trades reported in 349 companies with 139 closing up, 186 closing down and 24 remaining unchanged.

KEL remained in the limelight amid the company's recent development.

To note, the KSE-100 has gained 22,718 points or 54.8% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 1,720 points, equivalent to 2.75%.

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