PSX Closing Bell: KSE-100 index gains 121.72 points

December 16, 2022 (MLN): The benchmark KSE-100 index witnessed a rangebound session on Friday, however, it closed positive as the index gained 121.72 points (0.30% DoD) to close at 41,301.48, after oscillating between red and green zone.

Arif Habib Commodities, Chief Executive Officer Ahsan Mehanti said, “The stock exchange showed recovery which is led by the International Monetary Fund’s (IMF) affirmation of productive discussion on the 9th review.”

On the economic side, falling exchange reserves, and rupee devaluation against the dollar are affecting the investors’ confidence.

On the industrial side, non-issuance of Letter of Credit (LCs) and energy shortage has terribly affected the overall industrial activities as well as the exports.

The benchmark KSE-100 index made an intraday high of 41,393.97, and an intraday low of 41,087.59 during the day.

By the session’s end, the total volumes of the KSE-100 index stood at 64.47mn shares, decreased by 53.09% DoD from 137.45mn shares traded on Thursday.

In terms of sectors, most of the positive contributions came from technology, miscellaneous, oil & gas exploration, tobacco, and cement which cumulatively added 159.7 points to the index tally by the day’s end.

Out of 93 companies’ shares traded today 44 companies recorded gains and 46 companies sustained losses and three companies’ share remains unchanged.

Meanwhile, the volume leaders on the benchmark index were BAFL (17.47mn), UNITY (4.83mn), CNERGY (3.13mn), SNGP (2.77mn), and KAPCO (2.55mn).

The scrips which gained the most during the session included: UPFL (4.17%), PSEL (7.41%), RMPL (0.64%), PAKT (4.26%), and INDU (1.73%). On the other hand, the stocks that emerged as net losers during the day included COLG (1.01%), MTL (2.65%), ICI (1.12%), ARPL (1.15%), and HCAR (2.40%).

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