PSX Closing Bell: Hope Springs Eternal

February 02, 2024 (MLN): The benchmark KSE-100 index closed Friday's trading session at 63,002.92 showing an increase of 609.18 points or 0.98%.

The week began with the Pakistan Stock Exchange (PSX) continuing its decline amid political uncertainty and profit-taking. However, positivity emerged in the market as companies' earnings struck gold and attracted bulls back.

Despite the last three sessions of the week closing in the green, the benchmark index lost approximately 810 points or 1.27% week over week.

The index remained positive throughout the day, showing an intraday high of 63,075.30 (+681.56) and a low of 62,448.72 (54.98) points.

The total volume of the KSE-100 index was 133.234 million shares.

Of the 100 index companies 63 closed up, 20 closed down, 10 were unchanged, while 7 remained untraded.

KSE-100 index was supported by Commercial Banks with 105.22, Automobile Assembler with 93.68, Cement with 83.85, Fertilizer with 78.22, and Oil & Gas Exploration Companies with 42.5 points.

On the contrary, the index was let down by Miscellaneous with 3.21, Inv. Banks / Inv. Cos. / Securities Cos. with 2.46, Insurance with 1.52, Refinery with 1.34, and Paper & Board with 1.28 points.

Companies adding points to the index were MTL with 78.97, EFERT with 67.63, OGDC with 65.54, MCB with 48.07, and LUCK with 38.29 points.

Meanwhile, companies that dragged the index lower were PPL with 29.67, BAFL with 9.93, KOHC with 7.08, KTML with 4.93 and PKGS with 4.53 points.

In the broader market, the All-Share index closed at 42,577.29 with a net gain of 475.16 points.

Total market volume was 263.548 million shares compared to 270.538 from the previous session while traded value was recorded at Rs10.73 billion showing a decrease of Rs0.90bn.

There were 134,816 trades reported in 335 companies with 217 closing up, 91 closing down and 27 remaining unchanged.

To note, the KSE-100 has gained 21,550 points or 51.99% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 552 points, equivalent to 0.88%.

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