PSX Closing Bell: Marching Up the Charts

December 06, 2024 (MLN): The trading session at the stock market today ended on a similarly positive note, with Pakistani stocks continuing the uninterrupted rally observed in recent days.

As a result, the benchmark KSE-100 Index concluded Friday's trading session at 109,053.95, showing a further rise of 814.99 points or 0.75%.

This marks the eighth consecutive daily rise of the stock market, taking the calendar year's returns to 74.62%, while for the fiscal year, they stand at 39.02%.

The robust gains are driven by strong buying momentum, fueled by high expectations of a further policy rate cut by the central bank, following inflation's decline to its lowest level since April 2018.

The index remained positive throughout the day showing an intraday high of 109,478.08 (+1,239.12) and a low of 108,550.86 (+311.90) points.

The total volume of the KSE-100 Index was 658.76 million shares.

Of the 100 index companies 48 closed up, 51 closed down, while 1 were unchanged.

Top gainers during the day were NML (+10.00%), AICL (+10.00%), AIRLINK (+10.00%), PTC (+9.98%), and ENGRO (+9.17%).

On the other hand, top losers were NPL (-4.82%), CHCC (-4.32%), NCPL (-3.63%), THALL (-3.40%), and ISL (-3.33%).

In terms of index-point contributions, companies that propped up the index were ENGRO (+299.31pts), UBL (+240.26pts), MEBL (+157.29pts), DAWH (+148.40pts), and MARI (+110.78pts).

Meanwhile, companies that dragged the index lower were HUBC (-77.97pts), SYS (-57.25pts), OGDC (-55.28pts), CHCC (-50.63pts), and PSO (-48.46pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+465.38pts), Fertilizer (+215.09pts), Inv. Banks / Inv. Cos. / Securities Cos. (+148.09pts), Pharmaceuticals (+74.35pts), and Technology & Communication (+61.74pts).

While the index was let down by Cement (-179.46pts), Power Generation & Distribution (-63.96pts), Oil & Gas Marketing Companies (-39.12pts), Automobile Assembler (-29.16pts), and Automobile Parts & Accessories (-21.53pts).

In the broader market, the All-Share Index closed at 68,728.64 with a net gain of 544.05 points or 0.80%.

Total market volume was 1,697.84 million shares compared to 1,647.13m from the previous session while traded value was recorded at Rs57.49 billion showing a decrease of Rs5.74bn.

There were 498,329 trades reported in 468 companies with 233 closing up, 200 closing down, and 35 remaining unchanged.

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