PSX Closing Bell: Lucky Break
MG News | September 16, 2024 at 04:25 PM GMT+05:00
September 16, 2024 (MLN): Pakistan's stock market kicked off the week on a positive note, with the benchmark KSE-100 Index revisiting the key 80,000 mark.
However, profit-taking erased most of the gains, though the index managed to close in green largely uplifted by Mari Petroleum. By session's close, KSE-100 settled at 79,491.13, an increase of 158.08 points or 0.20%.
The country's major oil and gas exploration company saw its shares surge 10% following a substantial 1,340% dividend and 800% bonus shares issuance.
Such a large bonus issue can help attract smaller investors as it reduces share price by redistributing the amount of equity across a larger number of shares. It is worth noting that it does not change the overall valuation of the company.
It also provides a psychological boost to investors.

The index remained positive throughout the day showing an intraday high of 79,993.17 (+660.12) and a low of 79,368.18 (+35.13) points.
The total volume of the KSE-100 Index was 152.29 million shares.
Of the 100 index companies 45 closed up, 53 closed down, while 2 were unchanged.
Top gainers during the day were MARI (+10.00%), PSX (+4.34%), INIL (+4.10%), NCPL (+3.28%), and THALL (+3.01%).
On the other hand, top losers were EFUG (-8.52%), DGKC (-4.56%), GADT (-3.81%), PIBTL (-3.66%), and PAEL (-3.41%).

In terms of index-point contributions, companies that propped up the index were MARI (+292.49pts), HUBC (+56.10pts), EFERT (+24.00pts), TRG (+17.10pts), and THALL (+14.31pts).
Meanwhile, companies that dragged the index lower were MEBL (-33.76pts), DGKC (-25.62pts), UBL (-24.29pts), ENGRO (-21.44pts), and OGDC (-20.99pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+265.42pts), Power Generation & Distribution (+58.45pts), Technology & Communication (+16.56pts), Automobile Parts & Accessories (+14.31pts), and Food & Personal Care Products (+12.60pts).
While the index was let down by Cement (-87.13pts), Commercial Banks (-61.83pts), Leather & Tanneries (-20.56pts), Insurance (-19.10pts), and Automobile Assembler (-17.76pts).

In the broader market, the All-Share Index closed at 51,243.05 with a net gain of 86.40 points or 0.17%.
Total market volume was 536.19 million shares compared to 487.52m from the previous session while traded value was recorded at Rs8.91 billion showing a decrease of Rs2.59bn.
There were 196,984 trades reported in 443 companies with 139 closing up, 253 closing down, and 51 remaining unchanged.
| Symbol | Price | Change % | Volume |
|---|---|---|---|
| PACE | 6.96 | -5.43% | 56,890,305 |
| CNERGY | 4.16 | 2.46% | 48,934,827 |
| WTL | 1.39 | 0.73% | 40,218,735 |
| FCSC | 2.62 | -2.60% | 38,001,431 |
| KEL | 3.99 | -1.97% | 33,764,721 |
| KOSM | 8.85 | 5.23% | 31,476,937 |
| MDTL | 2.71 | -12.30% | 25,613,950 |
| FNEL | 4.27 | 3.64% | 21,676,586 |
| PASL | 1.66 | -18.23% | 19,810,292 |
| HASCOL | 7.26 | 1.26% | 14,098,701 |
To note, the KSE-100 has gained 1,046 points or 1.33% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 17,040 points, equivalent to 27.29%.
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| Name | Price/Vol | %Chg/NChg |
|---|---|---|
| KSE100 | 179,571.27 436.67M | 1.06% 1878.35 |
| ALLSHR | 108,600.94 844.23M | 1.00% 1073.54 |
| KSE30 | 53,548.42 162.02M | 0.99% 525.53 |
| KMI30 | 256,725.70 154.74M | 0.76% 1936.43 |
| KMIALLSHR | 70,620.69 563.61M | 0.98% 683.55 |
| BKTi | 48,625.03 36.31M | 1.37% 658.39 |
| OGTi | 37,179.52 8.29M | 0.94% 345.85 |
| Symbol | Bid/Ask | High/Low |
|---|
| Name | Last | High/Low | Chg/%Chg |
|---|---|---|---|
| BITCOIN FUTURES | 60,455.00 | 60,455.00 59,790.00 | 460.00 0.77% |
| BRENT CRUDE | 73.08 | 75.13 71.38 | -2.18 -2.90% |
| RICHARDS BAY COAL MONTHLY | 115.00 | 0.00 0.00 | 1.65 1.46% |
| ROTTERDAM COAL MONTHLY | 126.25 | 0.00 0.00 | 0.15 0.12% |
| USD RBD PALM OLEIN | 1,135.00 | 1,135.00 1,135.00 | 0.00 0.00% |
| CRUDE OIL - WTI | 70.24 | 71.86 68.56 | -1.68 -2.34% |
| SUGAR #11 WORLD | 14.55 | 14.68 14.02 | 0.45 3.19% |
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