February 21, 2024 (MLN): The benchmark KSE-100 index closed Wednesday's trading session at 61,559.16 showing an increase of 1,094.91 points or 1.81%.
The positivity comes as major political parties reached a consensus yesterday to form a coalition government.
The new government would need to secure a larger and longer International Monetary Fund (IMF) loan program to meet its high debt obligations.
The post-election losses have now been trimmed to 2,585 points or 4%.
The index remained positive throughout the day, showing an intraday high of 61,620.86 (+1,156.61) and a low of 60,906.98 (+442.74) points.
The total volume of the KSE-100 index was 210.578 million shares.
Of the 100 index companies 76 closed up, 16 closed down, while 8 remained untraded.
KSE-100 index was supported by Oil & Gas Exploration Companies with 189.42, Commercial Banks with 188.19, Cement with 159.58, Technology & Communication with 108.29, and Pharmaceuticals with 101.68 points.
Pharma stocks continued to soar, with all companies included in the KSE-100 index hitting their upper circuit for the second consecutive session after the government relaxed drug pricing policies.
On the contrary, the index was let down by Textile Composite with 20.41, Miscellaneous with 14.63, Automobile Parts & Accessories with 10.52, and Textile Spinning with 1.13 points.
Companies adding points to the index were OGDC with 82.41, LUCK with 69.22, PPL with 59.67, UBL with 57.18, and TRG with 53.66 points.
Meanwhile, companies that dragged the index lower were PSEL with 29.75, ILP with 21.36, AKBL with 13.65, PKGP with 12.25 and THALL with 10.52 points.
In the broader market, the All-Share index closed at 41,390.49 with a net gain of 653.91 points.
Total market volume was 362.771 million shares compared to 364.443 from the previous session while traded value was recorded at Rs12.49 billion showing an increase of Rs1.56bn.
There were 165,841 trades reported in 345 companies with 240 closing up, 84 closing down and 21 remaining unchanged.
| Company | Volume |
|---|---|
| BOP | 35,437,903 |
| KEL | 28,619,621 |
| WTL | 21,425,569 |
| CNERGY | 18,305,086 |
| SEARL | 17,622,141 |
| FFL | 16,976,351 |
| AKBL | 14,536,500 |
| PRL | 12,619,008 |
| UNITY | 9,443,016 |
| AIRLINK | 8,954,277 |
To note, the KSE-100 has gained 20,106 points or 48.5% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of 892 points, equivalent to 1.43%.
Copyright Mettis Link News
Posted on: 2024-02-21T16:22:07+05:00
