PSX Closing Bell: KSE-100 Index recovers by 467.92 points

December 29, 2022 (MLN): After marking its lowest of 39,027.51 on Wednesday, the Pakistan Stock Exchange recuperate by 467.92 points (1.19% DoD) to settled at 39,747.35 on Thursday.

The market showed recovery on Finance Minister statement that there are zero chances of Pakistan to default and country has resilience and can survive all challenges in future.

Moreover, the National Cabinet yesterday has decided to implement National Energy Efficiency and Conservation (NEEC) plan, and Prime Minister ordered to cut 30% use of electricity in government offices which also led market to close positive.

However, today’s bullish session is temporary as economic instability and political instability is the main factor behind the market crash.

The benchmark KSE-100 index made an intraday high of 39,747.35 and an intraday low of 39,205.17 during the day.

By the session’s end, the total volumes of the KSE-100 index stood at 166.55 shares, increased by 1.63% DoD from 163.84shares traded on Wednesday.

In terms of sectors, most of the positive contributions came from cement, technology, fertilizer, oil & gas exploration, and miscellaneous companies which cumulatively added 331.23 points to the index tally by the day’s end.

Meanwhile, the volume leaders on the benchmark index were BAFL (52.19mn), KEL (20.12mn), CNERGY (13.12mn), BOP (7.78mn), and PPL (6.62mn).

The scrips which gained the most during the session included: RMPL (7.50%), NESTLE (6.76%), PSEL (4.79%), SYS (3.89%), and LUCK (3.59%). On the other hand, the stocks that emerged as net losers during the day included PAKT (4.24%), COLG (0.58%), ARPL (1.93%), INDU (0.58%), and MARI (0.36%).

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