PSX Closing Bell: Party Rock Anthem

July 03, 2023 (MLN): Pakistan stock exchange (PSX) on Monday opened on a bullish note as investors responded positively to the long-standing Staff Level Agreement (SLA) worth $3 billion finally being signed on Friday between the International Monetary Fund (IMF) and Pakistan.

Moreover, following the SLA, the IMF board is finally scheduled to meet the Pakistan side on July 12, 2023.

In the backdrop of an abnormal rally, the PSX was halted within the first seven minutes of the trading session as the KSE30 index rose 5% for five consecutive minutes.

Consequently, the benchmark index KSE-100 closed Monday's trading session at 43,899 showing an increase of 2,446.32 points.

It is worth noting that KSE-100 closed the day with the highest-ever points increase in a single trading session.

The index remained positive throughout the session touching an intraday high of 43,933.94.

Total Volume of the KSE100 Index was 169.58 million shares.

Of the 100 index companies 92 closed up, 3 closed down, 3 were unchanged while 2 remained untraded.

KSE100 index was supported by Commercial Banks with 554.41, Oil & Gas Exploration Companies with 300.38, Fertilizer with 276.37, Cement with 269.16 and Technology & Communication with 255.42 points.

Companies adding points to the index were SYS with 158.52, HUBC with 142.47, ENGRO with 128.42, UBL with 121.16 and LUCK with 120.49 points.

In the broader market, the All-Share index closed at 29,516.22 with a net gain of 1,405.19 points.

Total market volume was 381.905 million shares compared to 234.748 from the previous session while traded value being recorded at 8.68 billion showing an increase of Rs.1.2 billion.

There was 102,671 trades reported in 352 companies with 312 closing up, 34 closing down and 6 remaining unchanged.

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