PSX Closing Bell: KSE-100 index gains 173.75 points

December 13, 2022 (MLN): The benchmark KSE-100 index witnessed a rangebound session on Tuesday, however, it closed positive as the index gained 173.75 points (0.42% DoD) to close at 41,714.30. 

Arif Habib Commodities, Chief Executive Officer Ahsan Mehanti said, today’s upward trend is attributed to the deliberations over the $10bn Saudi Oil Refinery, Pak-Russia oil deal, approval of $554mn ADB flood assistance, and recent auto sales data for November 2022.

According to the data released by Pakistan Automobile Manufacturers Association (PAMA), “Sales of passenger cars increased by 39% MoM to 15,444 units in November 2022 compared to 11,129 units in October 2022.”

The benchmark KSE-100 index made an intraday high of 41,770.57 and an intraday low of 41,512.43 during the day.

By the session’s end, the total volumes of the KSE-100 index stood at 66.67mn shares, increased by 31.9% DoD from 45.40mn shares traded on Monday.

In terms of sectors, most of the positive contributions came from fertilizer, commercial banks, miscellaneous, technology, and tobacco which cumulatively added 235.64 points to the index tally by the day’s end.

Out of 91 companies’ shares traded today 44 companies recorded gains and 43 companies sustained losses and four company share remains unchanged.

Meanwhile, the volume leaders on the benchmark index were PTC (15.37mn), FCCL (5.07mn), UNITY (4mn), HBL (3.58mn), and KEL (3.30mn).

The scrips which gained the most during the session included: PSEL (7.50%), PAKT (5.79%), ENGRO (3.30%), ATLH (2.61%), and ICI (0.98%). On the other hand, the stocks that emerged as net losers during the day included INDU (0.87%), MTL (1.20%), HCAR (2.27%), KOHC (2.14%), and HINOON (0.57%).

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