PSX Closing Bell: Out of the Blue

May 23, 2024 (MLN): The benchmark KSE-100 index jumped 157.80 points or 0.21%, and closed above the 75,000 level.

The total volume of the KSE-100 index was 336.88 million shares.

Interestingly, most of the volume was seen in the final hour of trading, with the index settling at 75,114.47.

The index traded in a range of 558.67 points showing an intraday high of 75,284.74 (+328.07) and a low of 74,726.07 (-230.6) points.

Of the 100 index companies 51 closed up, 44 closed down, 2 were unchanged, while 3 remained untraded.

KSE-100 index was supported by Power Generation & Distribution (101.57pts), Oil & Gas Exploration Companies (78.36pts), Oil & Gas Marketing Companies (21pts), Tobacco (15.25pts), and Cement (14.58pts).

On the flip-side, the index was let down by Commercial Banks (47.03pts), Automobile Assembler (12.91pts), Automobile Parts & Accessories (10.31pts), Synthetic & Rayon (8.49pts), and Inv. Banks / Inv. Cos. / Securities Cos. (6.18pts).

Companies adding points to the index were OGDC (75.97pts), KEL (46.58pts), FFC (27.17pts), PKGP (27.09pts), and HUBC (25.7pts).

Meanwhile, companies that dragged the index lower were MCB (50.82pts), UBL (44.57pts), ENGRO (14.26pts), POL (11.74pts), and THALL (10.31pts).

In the broader market, the All-Share index closed at 48,716.55 with a net gain of 233.82 points.

Total market volume was 758.94 million shares compared to 584.48m from the previous session while traded value was recorded at Rs16.71 billion showing a decrease of Rs1.1bn.

There were 227,775 trades reported in 374 companies with 191 closing up, 155 closing down and 28 remaining unchanged.

K-Electric Limited (PSX: KEL) led in trading volume, with its shares surging 11.25% compared to the previous close. Most of its move came in the final hour of today's trading session.

To note, the KSE-100 has gained 33,662 points or 81.21% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 12,663 points, equivalent to 20.28%.

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