January 05, 2024 (MLN): The local stock market traded sideways for the first half of Friday's session; however, its key benchmark KSE-100 index sharply nosedived by almost 900 points in a few minutes after the second half of the session kicked off amid sudden political uncertainty.
By the session's end, the KSE-100 index pared most of its losses and closed at 64,514.90 showing a decrease of 124.26 points or 0.19%.
The index traded in a wide range of 1,319.52 points showing an intraday high of 65,077.48 (+438.32) and a low of 63,757.96 (-881.20) points.
The total volume of the KSE-100 index surged to 718.032 million shares.
Advancers to decliners remained equally distributed, with 41 companies closing up and 53 closing down.
Meanwhile 2 were unchanged and 4 remained untraded.
KSE-100 index was let down by Fertilizer with 83.16, Miscellaneous with 29.2, Cement with 28.26, Oil & Gas Exploration Companies with 24.92, and Commercial Banks with 20.68 points.
On the flip-side, the index was supported by Pharmaceuticals with 24.81, Leather & Tanneries with 20.97, Power Generation & Distribution with 20.65, Textile Composite with 16.8, and Oil & Gas Marketing Companies with 11.41 points.
Companies that dragged the index lower were FFC with 38.3, ENGRO with 34.02, PSEL with 32.58, BAHL with 19.33 and PAKT with 18.35 points.
On the other hand, companies that added points to the index were KEL with 39.46, SRVI with 20.97, SEARL with 19.78, HBL with 16.23, and SHEL with 15.52 points.
In the broader market, the All-Share index closed at 43,366.60 with a net gain of 57.75 points.
Total market volume was 949.559 million shares compared to 548.990 from the previous session while traded value was recorded at Rs19.36 billion showing an increase of Rs3.96bn.
There were 229,927 trades reported in 361 companies with 160 closing up, 187 closing down and 14 remaining unchanged.
KEL recorded its highest-ever trading volume of 481m shares in today's session, after the company successfully sealed PPAA and TDSA deals with the government.
| Company | Volume |
|---|---|
| KEL | 481,119,880 |
| WTL | 33,379,558 |
| BOP | 28,423,802 |
| CNERGY | 27,087,608 |
| PTC | 25,557,791 |
| SEARL | 21,496,822 |
| FFL | 18,795,048 |
| PIBTL | 18,743,000 |
| PRL | 16,634,971 |
| PIAA | 16,501,000 |
To note, the KSE-100 has gained 23,062 points or 55.64% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,064 points, equivalent to 3.3%.
Copyright Mettis Link News
Posted on: 2024-01-05T17:20:12+05:00
