March 01, 2024 (MLN): The local stock market extended its rally amid political clarity coupled with in-line inflation data.

The benchmark KSE-100 Index climbed 747 points, or 1.16%, to 65,325.69 at the close on Friday.

February inflation slowed to the lowest level in 20 months.

In today's session, the index traded in a range of 956.25 points showing an intraday high of 65,486.46 (+907.93) and a low of 64,530.21 (-48.31) points.

The total volume of the KSE-100 index was 136.076 million shares.

Of the 100 index companies 57 closed up, 39 closed down, 3 were unchanged, while 1 remained untraded.

KSE-100 index was supported by Commercial Banks with 280.88, Fertilizer with 207.98, Inv. Banks / Inv. Cos. / Securities Cos. with 92.13, Oil & Gas Exploration Companies with 57.74, and Automobile Assembler with 55.42 points.

On the contrary, the index was let down by Cement with 54.17, Technology & Communication with 12.02, Textile Composite with 11.34, Pharmaceuticals with 10.86, and Real Estate Investment Trust with 1.7 points.

Companies adding points to the index were ENGRO with 199.36, MEBL with 100.39, MARI with 92.75, DAWH with 89.77, and BAHL with 68.15 points.

Meanwhile, companies that dragged the index lower were OGDC with 35.37, LUCK with 14.3, CHCC with 11.32, SYS with 10.65 and FCCL with 9.73 points.

In the broader market, the All-Share index closed at 43,268.95 with a net gain of 428.06 points.

Total market volume was 344.227 million shares compared to 424.044 from the previous session while traded value was recorded at Rs13.39 billion showing a decrease of Rs3.68bn.

There were 166,904 trades reported in 348 companies with 172 closing up, 156 closing down and 20 remaining unchanged.

To note, the KSE-100 has gained 23,873 points or 57.59% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,875 points, equivalent to 4.6%.

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Posted on: 2024-03-01T17:21:26+05:00