PSX Closing Bell: Rise to the Occasion

September 10, 2024 (MLN): Pakistan stocks remained relatively stable until the final hour of today's trading session when a surge in buying activity drove the index higher.

The benchmark KSE-100 Index closed the day up by 671.73 points or 0.85% at 79,286.7.

The index remained positive throughout the day showing an intraday high of 79,335.59 (+720.59) and a low of 78,642.86 (+27.86) points.

The total volume of the KSE-100 Index was 121.34 million shares.

Of the 100 index companies 62 closed up, 32 closed down, 5 were unchanged, while 1 remained untraded.

Top gainers during the day were BNWM (+8.09%), BAFL (+5.46%), FATIMA (+4.10%), YOUW (+4.08%), and SRVI (+3.96%).

On the other hand, top losers were KTML (-3.87%), BIPL (-2.48%), FFC (-2.07%), SHFA (-2.01%), and PKGS (-1.95%).

In terms of index-point contributions, companies that propped up the index were EFERT (+95.40pts), UBL (+77.59pts), BAFL (+71.85pts), LUCK (+63.68pts), and HBL (+58.65pts).

Meanwhile, companies that dragged the index lower were FFC (-85.68pts), HUBC (-19.70pts), COLG (-8.43pts), PKGS (-7.58pts), and ABL (-6.22pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+303.18pts), Cement (+119.35pts), Fertilizer (+44.78pts), Oil & Gas Exploration Companies (+39.58pts), and Automobile Assembler (+30.12pts).

While the index was let down by Power Generation & Distribution (-17.91pts), Paper, Board & Packaging (-7.58pts), Chemical (-4.82pts), Refinery (-4.64pts), and Close - End Mutual Fund (-0.17pts).

In the broader market, the All-Share Index closed at 51,041.88 with a net gain of 350.70 points or 0.69%.

Total market volume was 509.49 million shares compared to 491.12m from the previous session while traded value was recorded at Rs13.76 billion showing an increase of Rs3.64bn.

There were 215,168 trades reported in 436 companies with 202 closing up, 170 closing down, and 64 remaining unchanged.

To note, the KSE-100 has gained 842 points or 1.07% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,836 points, equivalent to 26.96%.

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