PSX Closing Bell: Out of the Ashes

January 31, 2024 (MLN): The Pakistan Stock Exchange (PSX) broke free from its four-day losing streak today as bulls entered the market and remained dominant throughout the session.

Consequently, the benchmark KSE-100 index closed the trading session at 61,979.18 with an increase of 137.44 points or 0.22%.

The index remained positive throughout the day, showing an intraday high of 62,600.12 (+758.38) and a low of 61,896.01 (54.26) points.

The total volume of the KSE-100 index was 153.558 million shares.

As January 2024 comes to a close, it is crucial to note that the benchmark index has lost 471.86 points (0.76%), marking a negative start to the year.

Of the 100 index companies 53 closed up, 36 closed down, 4 were unchanged, while 7 remained untraded.

KSE-100 index was supported by Commercial Banks with 107.58, Fertilizer with 60.34, Automobile Assembler with 15.25, Technology & Communication with 11.58, and Cable & Electrical Goods with 11.05 points.

On the contrary, the index was let down by Chemical with 37.82, Engineering with 19.28, Leather & Tanneries with 14.51, Cement with 11.59, and Synthetic & Rayon with 9.08 points.

Companies adding points to the index were ENGRO with 34.63, BAFL with 32.77, UBL with 29.45, OGDC with 19.59, and BOP with 16.78 points.

Meanwhile, companies that dragged the index lower were COLG with 29.74, MARI with 26.22, SRVI with 14.51, BAHL with 14.26 and KOHC with 11.24 points.

In the broader market, the All-Share index closed at 41,892.68 with a net loss of 16.44 points.

Total market volume was 276.465 million shares compared to 436.120 from the previous session while traded value was recorded at Rs9.27 billion showing a decrease of Rs6.03bn.

There were 130,829 trades reported in 347 companies with 165 closing up, 149 closing down and 33 remaining unchanged.

To note, the KSE-100 has gained 20,526 points or 49.52% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of 472 points, equivalent to 0.76%.

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