PSX Closing Bell: Ray of Hope

April 26, 2024 (MLN): The benchmark KSE-100 index surged another 771.35 points or 1.07% to close Friday's trading session at a record high of 72,742.75.

The index traded in a range of 1,098.23 points showing an intraday high of 72,862.41 (+891.01) and a low of 71,764.18 (-207.22) points.

The total volume of the KSE-100 index was 302.352 million shares.

Investors are closely monitoring the upcoming Monetary Policy Committee (MPC) meeting of the State Bank of Pakistan (SBP) scheduled on Monday, with renewed bets for a rate cut.

Of the 100 index companies 59 closed up, 40 closed down, while 1 remained untraded.

KSE-100 index was supported by Fertilizer with 400.45, Commercial Banks with 169.81, Power Generation & Distribution with 103.57, Cement with 89.06, and Food & Personal Care Products with 32.5 points.

On the contrary, the index was let down by Technology & Communication with 32.98, Automobile Assembler with 26.05, Oil & Gas Marketing Companies with 18.29, Paper & Board with 11.8, and Oil & Gas Exploration Companies with 7.15 points.

Companies adding points to the index were EFERT with 188.34, BAHL with 127.29, FFC with 103.3, HUBC with 97.58, and ENGRO with 53.66 points.

Meanwhile, companies that dragged the index lower were MTL with 27.32, TRG with 25.25, POL with 18.08, NBP with 13.09 and MCB with 12.61 points.

In the broader market, the All-Share index closed at 47,489.46 with a net gain of 314.51 points.

Total market volume was 541.145 million shares compared to 798.527 from the previous session while traded value was recorded at Rs22.59 billion showing a decrease of Rs4.98bn.

There were 242,994 trades reported in 375 companies with 175 closing up, 175 closing down and 25 remaining unchanged.

To note, the KSE-100 has gained 31,290 points or 75.48% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 10,292 points, equivalent to 16.48%.

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