PSX Closing Bell: Shuffle the Deck

November 14, 2023 (MLN): The benchmark KSE-100 index started the day on a positive note, reaching its intraday high of 56,873.99 (+350.41) in the morning.

It then faced strong resistance from the sellers, triggering a sharp sell-off that wiped out 755.82 points in just 10 minutes. The index plunged to 56,118.17 points, erasing its earlier gains.

Nonetheless, the bulls stepped in again to keep capitalizing on any downturns.

By the session’s end, KSE-100 managed to close slightly higher at 56,665.93 points, up by 0.25% or 142.35 points from the previous day's close.

The total volume of the KSE-100 Index was 255.537 million shares.

Of the 100 index companies 37 closed up, 43 closed down, while 20 remained untraded.

KSE-100 index was supported by Power Generation & Distribution with 114.78, Technology & Communication with 81.11, Automobile Assembler with 64.27, Food & Personal Care Products with 55.22, and Oil & Gas Marketing Companies with 29.48 points.

Companies adding points to the index were HUBC with 87.93, MTL with 63.74, SYS with 53.67, NESTLE with 38, and TRG with 24.66 points.

KSE-100 Index was let down by Commercial Banks with 136.27, Fertilizer with 74.55, Cement with 33, Glass & Ceramics with 9.93, and Tobacco with 9.53 points.

Companies dragging the index lower were EFERT with 44.29, UBL with 36.83, MEBL with 30.02, LUCK with 28.4 and BAFL with 28.2 points.

In the broader market, the All-Share index closed at 37,542.85 with a net gain of 153.09 points.

Total market volume was 526.357 million shares compared to 660.650 from the previous session while traded value was recorded at Rs19.54 billion showing a decrease of Rs2.87bn.

There were 232,768 trades reported in 363 companies with 182 closing up, 160 closing down and 21 remaining unchanged.

To note, the KSE-100 has gained 15,213 points or 36.7% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,245 points, equivalent to 40.19% in the KSE-100.

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