PSX Closing Bell: Out of Gas

November 17, 2023 (MLN): The benchmark KSE-100 Index broke its 6-day winning streak to conclude Friday's trading session at 57,063.16 showing a decrease of 333.87 points or 0.58%.

The market sentiment was likely hurt by the sharp rise in the inflation numbers, which showed a staggering increase of nearly 10% WoW due to the 480% hike in gas prices.

The index traded in a range of 773.9 points showing an intraday high of 57,750.93 (+353.9) and a low of 56,977.02 (-420) points.

The total volume of the KSE-100 Index was 363.423 million shares.

While on a weekly basis, the KSE-100 index recorded an increase of 1,671.79 points or 3.02% WoW.

In today's session, of the 100 index companies 33 closed up, 45 closed down, 1 was unchanged, while 21 remained untraded.

KSE-100 Index was let down by Power Generation & Distribution with 112.28, Fertilizer with 92.73, Cement with 78.97, Oil & Gas Exploration Companies with 70.04, and Inv. Banks / Inv. Cos. / Securities Cos. with 35.18 points.

Companies dragging the index lower were HUBC with 97.67, EFERT with 63.06, LUCK with 53.66, OGDC with 49.31 and DAWH with 31.68 points.

KSE-100 index was supported by Oil & Gas Marketing Companies with 36.43, Pharmaceuticals with 34.73, Miscellaneous with 20.92, Glass & Ceramics with 12.88, and Technology & Communication with 11.15 points.

Companies adding points to the index were SNGP with 30.73, SYS with 26.46, SEARL with 21.47, GHGL with 16.83, and RMPL with 15.77 points.

In the broader market, the All-Share index closed at 38,318.55 with a net loss of 64.29 points.

Total market volume was 901.597 million shares compared to 1,056.715 from the previous session while traded value was recorded at Rs23.43 billion showing a decrease of Rs5.43bn.

There were 258,203 trades reported in 377 companies with 189 closing up, 170 closing down and 18 remaining unchanged.

To note, the KSE-100 has gained 15,610 points or 37.66% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,643 points, equivalent to 41.17% in the KSE-100.

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