July 12, 2023 (MLN): The benchmark KSE-100 index closed Wednesday's trading session at 45,514.95 showing an increase of 359.16 points.
The index remained positive throughout the session touching an intraday high of 45,582.3.
To note, the benchmark KSE-100 index has gained a staggering 4,062.27pts in just the last eight trading sessions, since the signing of the long-standing staff-level agreement with the IMF on a $3 billion nine-month SBA.
Total Volume of the KSE100 Index was 206.705 million shares.
Of the 100 index companies 49 closed up, 42 closed down, 6 were unchanged while 3 remained untraded.
KSE100 index was supported by Commercial Banks with 183.06, Power Generation & Distribution with 71.35, Oil & Gas Exploration Companies with 61.37, Chemical with 58.88 and Cement with 18.12 points.
Companies adding points to the index were MEBL with 86.25, HUBC with 66.61, COLG with 50.26, LUCK with 34.32 and MCB with 32.7 points.
KSE100 Index was let down by Technology & Communication with 21.14, Inv. Banks / Inv. Cos. / Securities Cos. with 10.59, Engineering with 10.49, Glass & Ceramics with 9.8 and Paper & Board with 6.0 points.
Companies dragging the index lower were TRG with 17.35, DAWH with 10.59, CHCC with 9.39, GHGL with 6.82 and FCCL with 6.5 points.
In the broader market, the All-Share index closed at 30,449.75 with a net gain of 238.51 points.
Total market volume was 450.26 million shares compared to 555.1 from the previous session while traded value being recorded at 13.14 billion showing a decrease of Rs.2.35 billion.
There was 171,474 trades reported in 355 companies with 171 closing up, 161 closing down and 23 remaining unchanged.
| Company | Volume |
|---|---|
| WTL | 49,959,283 |
| UNITY | 20,347,892 |
| PIBTL | 18,202,500 |
| PRL | 18,150,809 |
| ASL | 17,175,782 |
| BOP | 16,254,500 |
| PPL | 12,591,221 |
| FFL | 12,531,133 |
| TELE | 12,174,477 |
| MLCF | 12,066,419 |
It is pertinent to note that despite the index's impressive performance, there are concerns over the market's overall health.
Yesterday, KSE-100 breached the 45,000pts mark for the first time since April 28, 2022, however, the market capitalization of the KSE-100 index has dropped by $3.92 billion, representing a significant decline of 40.5%.
Copyright Mettis Link News
Posted on: 2023-07-12T16:32:49+05:00
