PSX Closing Bell: Set Fire to the Rain

July 08, 2024 (MLN): Pakistan stocks extended their scorching run on Monday, with the benchmark KSE-100 Index gaining 353.41 points or 0.44% to close at 80,566.2.

Earlier in the session, trading at the Pakistan Stock Exchange (PSX) was halted for two hours after a fire broke out at the exchange building unexpectedly.

The fire started around an hour before trading was slated to begin and PSX exercised high-security alert whereby no one was allowed to enter the main compound of the building except essential personnel, firefighters, and fire-fighting crew. 

Trading in all securities was restarted at around 12:30pm.

The index traded in a range of 545.39 points showing an intraday high of 80,737.70 (+524.91) and a low of 80,192.31 (-20.48) points.

The total volume of the KSE-100 Index was 138.37 million shares.

Of the 100 index companies 55 closed up, 40 closed down, while 5 were unchanged.

KSE-100 index was supported by Commercial Banks (+204.08pts), Cement (+76.28pts), Refinery (+44.04pts), Oil & Gas Marketing Companies (+36.43pts), and Power Generation & Distribution (+27.53pts).

On the flip-side, the index was let down by Fertilizer (-45.21pts), Automobile Assembler (-31.13pts), Technology & Communication (-22.36pts), Leather & Tanneries (-18.34pts), and Synthetic & Rayon (-3.47pts).

Companies that added points to the index were HBL (+74.34pts), NBP (+65.00pts), ABL (+37.44pts), PPL (+31.69pts), and UBL (+29.15pts).

On the other hand, companies that dragged the index lower were MCB (-30.11pts), MTL (-30.06pts), POL (-24.68pts), TRG (-19.69pts), and EFERT (-19.32pts).

In the broader market, the All-Share index closed at 51,169.33 with a net gain of 392.98 points or 0.77%.

Total market volume was 261.65 million shares compared to 448.98m from the previous session while traded value was recorded at Rs13.02 billion showing a decrease of Rs5.97bn.

There were 146,374 trades reported in 425 companies with 216 closing up, 156 closing down, and 53 remaining unchanged.

To note, the KSE-100 has gained 2,121 points or 2.70% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 18,115 points, equivalent to 29.01%.

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