March 10, 2023 (MLN): Optimism surrounding on IMF deal fueled the Pakistani stock market as the benchmark KSE-100 index closed with a 0.50 percent gain on Friday, touching an intraday high of 41,902.02.

Despite a cautious buying stance from investors, the index remained positive throughout the session, adding 208.33 points to close at 41,793.87.

The market sentiment reflected hope for a positive economic outlook as Pakistan continues to negotiate with the IMF for a potential bailout package.

Of the 93 traded companies in the KSE100 Index 62 closed up 27 closed down, while 4 remained unchanged. The total volume traded for the index was 102.28 million shares.

Sectors propping up the index were Commercial Banks with 71 points, Technology & Communication and Fertilizer with 36 points each, Inv. Banks / Inv. Cos. / Securities Cos. with 17 points and Textile Composite with 15 points.

The most points added to the index were by SYS which contributed 28 points followed by EFERT with 27 points, MCB with 16 points, MEBL and HMB with 15 points.

Sector-wise, the index was let down by Oil & Gas Exploration Companies with 29 points, Pharmaceuticals with 6 points, Insurance with 5 points, Cement with 4 points and Property with 3 points.

The most points taken off the index was by POL which stripped the index of 13 points followed by PPL with 12 points, UPFL with 11 points, ENGRO with 9 points and CHCC with 8 points.

All Share Volume increased by 43.65mn to 272.74mn shares. Market Cap increased by Rs16 billion.

The total companies traded were 329 compared to 324 from the previous session. Of the scrips traded 222 closed up, 86 closed down and 21 remained unchanged.

Total trades increased by 17,227 to 113,124.

Value Traded decreased by 0.66bn to Rs6.77bn.

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Posted on: 2023-03-10T20:04:43+05:00