PSX Closing Bell: Relief Rally...

March 01, 2022 (MLN): Pakistan equities witnessed bullish momentum throughout the day today on the back of announced relief package by PM Imran Khan.

Resultantly, investors capitalized on that and took positions on attractive valuations. Moreover, international oil prices dropped slightly which also boosted the investors’ confidence, a closing note by Aba Ali Habib Securities cited.

Investors’ confidence was further supported by February inflation numbers, clocking in at 12.24% YoY compared to 8.70% in Feb’21 and 12.96% in Jan’22.

Consequently, the benchmark KSE100 index ended the trading session  with a 342.57 point or 0.77% gain to close at 44,803 level.

The Index remained positive throughout the session touching an intraday high of 45,017.68

Of the 94 traded companies in the KSE100 Index 61 closed up 31 closed down, while 2 remained unchanged. Total volume traded for the index was 129.06 million shares.

Sectors propping up the index were Oil & Gas Exploration Companies with 146 points, Technology & Communication with 101 points, Chemical with 35 points, Power Generation & Distribution with 21 points and Refinery with 19 points.

The most points added to the index was by PPL which contributed 82 points followed by TRG with 69 points, OGDC with 60 points, COLG with 24 points and NBP with 23 points.

Sector wise, the index was let down by Cement with 27 points, Sugar & Allied Industries with 5 points, Insurance with 4 points, Fertilizer with 4 points and Close - End Mutual Fund with 3 points.

The most points taken off the index was by LUCK which stripped the index of 20 points followed by INDU with 15 points, MEBL with 12 points, MCB with 7 points and FFC with 6 points.

All Share Volume increased by 101.22 Million to 309.35 Million Shares. Market Cap increased by Rs.68.70 Billion.

Total companies traded were 364 compared to 340 from the previous session. Of the scrips traded 226 closed up, 117 closed down while 21 remained unchanged.

Total trades increased by 38,061 to 134,587.

Value Traded increased by 4.38 Billion to Rs.10.45 Billion

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