PSX Closing Bell: New Beginnings

January 01, 2024 (MLN): The Pakistan Stock Market kicked off 2024 on a high note, with its key benchmark KSE-100 index surging by 2,210.74 points or 3.54% to close Monday's trading session at 64,661.78.

This was the second-largest single day gain in absolute terms.

The index remained positive throughout the day, showing an intraday high of 64,718.88 (+2,267.84) and a low of 62,672.97 (+221.92) points.

The total volume of the KSE-100 index was 339.926 million shares.

This comes after the index posted a gain of 54.5% in PKR terms and 24% in USD terms in 2023, the highest yearly return since 2009.

The benchmark index closed 2023 at 62,451 gaining 21,632 points, and emerged as the fourth best-performing stock market for the year.

In today's session, of the 100 index companies 93 closed up, 5 closed down, while 2 remained untraded.

KSE-100 index was supported by Oil & Gas Exploration Companies with 441.7, Commercial Banks with 439.7, Technology & Communication with 221.35, Power Generation & Distribution with 177.9, and Cement with 174.61 points.

On the contrary, the index was let down by Leather & Tanneries with 6.01, and Modarabas with 0.61 points.

Companies adding points to the index were PPL with 175.26, OGDC with 165.36, SYS with 128.09, HUBC with 128.08, and UBL with 96.48 points.

Meanwhile, companies that dragged the index lower were SRVI with 6.01, FHAM with 0.61, PSEL with 0.59, and MUREB with 0.15 points.

In the broader market, the All-Share index closed at 43,224.73 with a net gain of 1,308.46 points.

Total market volume was 625.147 million shares compared to 590.593 from the previous session while traded value was recorded at Rs18.53 billion showing an increase of Rs1.68bn.

There were 226,156 trades reported in 377 companies with 326 closing up, 36 closing down and 15 remaining unchanged.

To note, the KSE-100 has gained 23,209 points or 55.99% during the fiscal year.

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