PSX Closing Bell: Old Time Rock & Roll

April 11, 2022 (MLN): Following the dismissal of Imran Khan through the vote of no confidence in the National Assembly on the weekend, the benchmark KSE100 gained the highest ever points of 1,700 in a day in its history as political instability finally comes to an end and the country is expected to get a new PM today.

In percentage terms, the market was up by 3.83% DoD to settle at 46,145 points level.

The last highest gain was seen on June 5, 2017, when the market surged by 1,566 points or 3.22% DoD to close at the 50,121 mark.

In addition, the appreciation of PKR against the greenback by 0.90% and closed at Rs182.93/$ further boosted the confidence in the market.

A hint of clarity and market gains record points in a single day. Such is the state of valuations. If the reforms process is initiated and global lenders are brought on board, good times are ahead for the market, Fahad Rauf, Head of Equity Research at Ismail Iqbal Securities said.

The Index remained positive throughout the session touching an intraday high of 46,215.54

Of the 96 traded companies in the KSE100 Index 89 closed up 5 closed down, while 2 remained unchanged. Total volume traded for the index was 228.86 million shares.

Sectors propping up the index were Commercial Banks with 385 points, Cement with 228 points, Technology & Communication with 199 points, Fertilizer with 130 points and Oil & Gas Exploration Companies with 117 points.

The most points added to the index was by SYS which contributed 99 points followed by LUCK with 96 points, TRG with 76 points, HBL with 76 points and HUBC with 75 points.

Sector wise, the index was let down by Modarabas with 1 points and Real Estate Investment Trust with 1 points.

The most points taken off the index was by INDU which stripped the index of 3 points followed by FHAM with 1 point, ABL with 1 point, DCR with 1 point and NESTLE with 1 point.

All Share Volume increased by 329.79 Million to 557.67 Million Shares. Market Cap increased by Rs.236.15 Billion.

Total companies traded were 386 compared to 325 from the previous session. Of the scrips traded 330 closed up, 45 closed down while 11 remained unchanged.

Total trades increased by 51,120 to 134,345.

Value Traded increased by 6.58 Billion to Rs.13.36 Billion

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