PSX Closing Bell: No Brakes

December 12, 2023 (MLN): After a brief dip yesterday, Pakistan’s stock market bounced back, with its key benchmark index gaining 414.46 points or 0.63% to end today's session at another record high of 66,426.78.

Market participants remain focused on today's MPC decision, with the market consensus leaning towards another rate pause, while some are hoping for a slight cut as well.

The index remained positive throughout the day, showing an intraday high of 66,604.04 (+591.72) and a low of 66,121.14 (+108.81) points.

The total volume of the KSE-100 index was 467.908 million shares.

Of the 100 index companies 55 closed up, 35 closed down, 1 was unchanged, while 9 remained untraded.

KSE-100 index was supported by Cement with 105.21, Fertilizer with 76.35, Oil & Gas Marketing Companies with 61.68, Automobile Assembler with 59.78, and Oil & Gas Exploration Companies with 57.99 points.

On the contrary, the index was let down by Commercial Banks with 122.54, Leather & Tanneries with 18.54, Miscellaneous with 3.26, Pharmaceuticals with 2.86, and Textile Composite with 2.75 points.

Companies adding points to the index were LUCK with 59.08, MTL with 48.32, HUBC with 42.2, EFERT with 36.63, and SNGP with 35.66 points.

Meanwhile, companies that dragged the index lower were MCB with 67.68, UBL with 29.7, SRVI with 18.54, FFC with 18.46 and HBL with 14.24 points.

In the broader market, the All-Share index closed at 44,092.74 with a net gain of 376.25 points.

Total market volume was 969.630 million shares compared to 1,215.932 from the previous session while traded value was recorded at Rs26.93 billion showing a decrease of Rs6.49bn.

There were 271,173 trades reported in 384 companies with 243 closing up, 127 closing down and 14 remaining unchanged.

To note, the KSE-100 has gained 24,974 points or 60.25% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 26,006 points, equivalent to 64.34% in the KSE-100.

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