PSX Closing Bell: Rising Tide

January 24, 2024 (MLN): The benchmark KSE-100 index extended its gains to end Wednesday's trading session at 64,822.43 showing an increase of 368.21 points or 0.57%.

The index remained positive throughout the day, showing an intraday high of 65,063.08 (+608.86) and a low of 64,460.95 (+6.73) points.

The total volume of the KSE-100 index was 278.313 million shares.

Of the 100 index companies 55 closed up, 37 closed down, 2 were unchanged, while 6 remained untraded.

The government executed Petroleum Concession Agreements and Exploration Licences for 8 blocks with 4 companies, stipulating a minimum investment of over $33.3 million to be carried out by the Exploration and Production (E&P) companies in these blocks for prospecting within three years.

Oil & Gas Exploration Companies was the best performing sector today, adding 208 points to the index.

This was followed by Commercial Banks with 118.36, Cement with 73.83, Oil & Gas Marketing Companies with 17.62, and Chemical with 11.53 points.

On the contrary, the index was let down by Power Generation & Distribution with 30.92, Miscellaneous with 22.02, Technology & Communication with 18.72, Fertilizer with 16.84, and Property with 3.24 points.

Companies adding points to the index were OGDC with 183.61, BAHL with 35.11, BAFL with 28.46, APL with 27.22, and HMB with 23.77 points.

Meanwhile, companies that dragged the index lower were FFC with 34.22, PSEL with 29.64, HUBC with 24.23, TRG with 12.87 and ILP with 7.49 points.

In the broader market, the All-Share index closed at 43,789.81 with a net gain of 328.18 points.

Total market volume was 479.982 million shares compared to 425.710 from the previous session while traded value was recorded at Rs22.50 billion showing a decrease of Rs2.50bn.

There were 207,529 trades reported in 349 companies with 198 closing up, 128 closing down and 23 remaining unchanged.

To note, the KSE-100 has gained 23,370 points or 56.38% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,371 points, equivalent to 3.8%.

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