November 02, 2023 (MLN): The benchmark KSE-100 index continued its upward momentum, extending the gains by 314.12 points or 0.60% to conclude the session at 52,656.76, inching further closer to its all-time high.
The market's expectations of an interest rate peak were reaffirmed by yesterday’s auction results, which once again witnessed record-high participation in 12-month MTBs.
Meanwhile, almost all the boxes have been checked in terms of the conditions put forth by the International Monetary Fund (IMF), and Pakistan is ready to face the delegation of the IMF today without the looming apprehension of reprimand from the fund.
Accordingly, investors remain optimistic for a favorable IMF review, which if successful will pave the way for a $700 million installment.
The index traded in a range of 466.42 points showing an intraday high of 52,706.01 (+363.37) and a low of 52,239.59 (-103.05) points.
The total volume of the KSE-100 Index was 182.993 million shares.
Of the 100 index companies 52 closed up, 34 closed down, 1 was unchanged, while 13 remained untraded.
KSE-100 index was supported by Cement with 103.97, Fertilizer with 65.96, Power Generation & Distribution with 51.67, Textile Composite with 48.45, and Paper & Board with 33.51 points.
Companies adding points to the index were LUCK with 53.39, HUBC with 52.51, ILP with 33.53, FFC with 28.74, and HBL with 27.97 points.
KSE-100 Index was let down by Commercial Banks with 26.06, Inv. Banks / Inv. Cos. / Securities Cos. with 13.25, Oil & Gas Marketing Companies with 11.2, Refinery with 6.64, and Technology & Communication with 4.9 points.
Companies dragging the index lower were MEBL with 24.97, MCB with 18.9, DAWH with 14.55, SYS with 10.91 and UBL with 7.93 points.
In the broader market, the All-Share index closed at 35,061.51 with a net gain of 242.13 points.
Total market volume was 475.086 million shares compared to 526.463 from the previous session while traded value was recorded at Rs14.58 billion showing a decrease of Rs1.93bn.
There were 186,232 trades reported in 349 companies with 192 closing up, 132 closing down and 25 remaining unchanged.
| Company | Volume |
|---|---|
| WTL | 39,170,148 |
| TPLP | 30,394,707 |
| PRL | 25,930,078 |
| CNERGY | 22,676,932 |
| GGL | 19,228,431 |
| MLCF | 15,275,305 |
| DGKC | 13,904,116 |
| AIRLINK | 12,317,264 |
| FFL | 11,745,740 |
| DCL | 10,640,500 |
To note, the KSE-100 has gained 11,204 points or 27.03% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 12,236 points, equivalent to 30.27% in the KSE-100.
Copyright Mettis Link News
Posted on: 2023-11-02T16:20:39+05:00
