PSX Closing Bell: Record-Breaker

October 29, 2024 (MLN): Pakistan stocks continued their recor­d-breaking rally for the seventh session on Tuesday as improving macroeconomic indicators and expectations of further reduction in the policy rate continued to boost sentiment.

The benchmark KSE-100 Index jumped 668.58 points or 0.74% to close at a record 90,864.09.

The index remained positive throughout the day showing an intraday high of 91,358.15 (+1,162.64) and a low of 90,449.41 (+253.90) points.

The total volume of the KSE-100 Index was 256.87 million shares.

Market sentiment was also bolstered by a bumper earnings season.

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Of the 100 index companies 56 closed up, 43 closed down, while 1 remained untraded.

Top gainers during the day were PGLC (+10.00%), GLAXO (+10.00%), CHCC (+9.25%), ABOT (+6.47%), and ILP (+6.30%).

On the other hand, top losers were PIOC (-6.81%), AIRLINK (-6.25%), AGP (-4.25%), SHEL (-3.71%), and PTC (-3.66%).

In terms of index-point contributions, companies that propped up the index were FFC (+198.50pts), SYS (+128.13pts), CHCC (+83.24pts), HUBC (+56.89pts), and GLAXO (+48.18pts).

Meanwhile, companies that dragged the index lower were EFERT (-90.67pts), MARI (-54.77pts), PIOC (-47.39pts), DAWH (-32.66pts), and AIRLINK (-26.69pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+206.34pts), Fertilizer (+151.57pts), Technology & Communication (+104.81pts), Cement (+92.52pts), and Pharmaceuticals (+79.19pts).

While the index was let down by Inv. Banks / Inv. Cos. / Securities Cos. (-37.79pts), Oil & Gas Marketing Companies (-37.42pts), Engineering (-18.93pts), Miscellaneous (-13.20pts), and Insurance (-11.79pts).

In the broader market, the All-Share Index closed at 57,924.43 with a net gain of 273.14 points or 0.47%.

Total market volume was 602.81 million shares compared to 567.26m from the previous session while traded value was recorded at Rs28.20 billion showing a decrease of Rs1.01bn.

There were 304,046 trades reported in 439 companies with 171 closing up, 219 closing down, and 49 remaining unchanged.

To note, the KSE-100 has gained 12,419 points or 15.83% during the fiscal year, whereas it has increased 28,413 points or 45.50% so far this calendar year.

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