PSX Closing Bell: I Wanna Be Rich

July 13, 2023 (MLN): The benchmark KSE-100 Index closed Thursday's trading session at 45,266.96 showing a decrease of 247.99 points.

The index opened on a bullish note, but investors cashed in their gains towards the end of the session.

The index traded in a range of 715.41 points showing an intraday high of 45,970.99 and a low of 45,255.58.

Total Volume of the KSE100 Index was 225.217 million shares.

Of the 100 index companies 30 closed up, 61 closed down, 5 were unchanged while 4 remained untraded.

KSE100 Index was let down by Commercial Banks with 100.37, Technology & Communication with 66.63, Fertilizer with 32.33, Textile Composite with 26.15 and Oil & Gas Exploration Companies with 17.84 points.

Companies dragging the index lower were SYS with 62.57, UBL with 50.15, ENGRO with 18.75, MARI with 14.29 and MEBL with 13.18 points.

KSE100 index was supported by Automobile Assembler with 19.24, Chemical with 17.96, Pharmaceuticals with 11.64, Refinery with 3.87 and Food & Personal Care Products with 3.32 points.

Companies adding points to the index were COLG with 41.83, SEARL with 15.76, KEL with 11.62, UNITY with 10.86 and MTL with 10.53 points.

In the broader market, the All-Share index closed at 30,360.75 with a net loss of 89.0 points.

Total market volume was 489.176 million shares compared to 450.26 from the previous session while traded value being recorded at 14.54 billion showing an increase of Rs.1.4 billion.

There was 185,001 trades reported in 360 companies with 141 closing up, 190 closing down and 29 remaining unchanged.

In the latest development, Kristalina Georgieva, managing director and chair of the International Monetary Fund (IMF) stated that the IMF supports the recent increase in the policy rate to 22% and urges the authorities to maintain a continued tight, proactive, and data-driven monetary policy going forward,

To note, the State Bank of Pakistan (SBP) has received the first installment of $1.2 billion from the International Monetary Fund (IMF) today.

While the remaining $1.8bn will be received after 2 reviews, in November of this year and February 2024.

This inflow comes on top of a $1bn deposit from the United Arab Emirates (UAE) yesterday, and a $2bn deposit from Saudi Arabia on Tuesday.

KSE-100 Weekly time-frame chart

The benchmark KSE-100 index rejected off the major high volume node (HVN) which is at 45,900pts

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