PSX Closing Bell: Money For Nothing

June 27, 2022 (MLN): The capital market kicked off the week on a bullish note as the local bourse cherished the news flows suggesting that IMF is expected to send a draft of the Memorandum of Economic and Financial Policies (MFEP) to Pakistan today.

In addition to it, the final budget for FY23 would be passed on 30th June 2022 with the finance bill tabling a day before the NA session to get approved which will be a crucial step to secure the IMF deal.

Meanwhile, the uncertainty on the trading floor was also wiped out on the freshly received inflow of $2.3bn from China.

As a result, the benchmark KSE100 index ended the trading session with a gain of 826.78 points to close at 41,878.57, witnessing an intraday high of 41,952.43.

Of the 92 traded companies in the KSE100 Index 78 closed up 13 closed down, while 1 remained unchanged. The total volume traded for the index was 122.62 million shares.

Sectors propping up the index were Commercial Banks with 182 points, Fertilizer with 97 points, Cement with 93 points, Technology & Communication with 85 points, and Oil & Gas Exploration Companies with 81 points.

The most points added to the index were by MARI which contributed 65 points followed by FFC with 55 points, SYS with 51 points, MCB with 46 points, and HBL with 44 points.

Sector-wise, the index was let down by Inv. Banks / Inv. Cos. / Securities Cos. with 3 points and Sugar & Allied Industries with 2 points.

The most points taken off the index was by OGDC which stripped the index of 7 points followed by DAWH with 6 points, PPL with 3 points, SML with 2 points and ILP with 2 points.

All Share Volume decreased by 176.33 Million to 247.90 Million Shares. Market Cap increased by Rs.109.60 Billion.

Total companies traded were 333 compared to 364 from the previous session. Of the scrips traded 228 closed up, 90 closed down while 15 remained unchanged.

Total trades decreased by 63,399 to 99,296.

Value Traded decreased by 5.43 Billion to Rs.7.38 Billion

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