PSX Closing Bell: Steady as She Goes

October 09, 2024 (MLN): Pakistan stocks jumped at the open on Wednesday, continuing their record-breaking rally, but then gave up much of their advance to end the day largely flat.

The benchmark KSE-100 Index concluded at 85,669.27, showing a marginal increase of 5.30 points or 0.01%.

The index traded in a range of 1,007.12 points showing an intraday high of 86,451.42 (+787.45) and a low of 85,444.30 (-219.67) points.

Brokerage house Ismail Iqbal Securities said gains were trimmed due to profit-taking.

The total volume of the KSE-100 Index was 349.29 million shares.

Of the 100 index companies 47 closed up, 52 closed down, while 1 were unchanged.

Top gainers during the day were LCI (+10.00%), PTC (+9.54%), BOP (+7.46%), NRL (+6.61%), and KEL (+5.57%).

On the other hand, top losers were SCBPL (-2.86%), TGL (-2.85%), SNGP (-2.57%), POL (-2.51%), and ILP (-2.32%).

In terms of index-point contributions, companies that propped up the index were MCB (+98.37pts), LCI (+50.83pts), BAHL (+49.44pts), HUBC (+46.84pts), and HBL (+46.70pts).

Meanwhile, companies that dragged the index lower were FFC (-79.72pts), EFERT (-69.81pts), POL (-65.12pts), OGDC (-47.62pts), and LUCK (-43.64pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+267.87pts), Power Generation & Distribution (+85.08pts), Chemical (+49.47pts), Refinery (+26.96pts), and Technology & Communication (+23.08pts).

While the index was let down by Oil & Gas Exploration Companies (-178.00pts), Fertilizer (-169.82pts), Cement (-63.73pts), Food & Personal Care Products (-17.99pts), and Textile Composite (-17.87pts).

In the broader market, the All-Share Index closed at 54,616.54 with a net gain of 131.21 points or 0.24%.

Total market volume was 596.05 million shares compared to 506.57m from the previous session while traded value was recorded at Rs31.34 billion showing a decrease of Rs1.71bn.

There were 279,318 trades reported in 448 companies with 208 closing up, 172 closing down, and 68 remaining unchanged.

To note, the KSE-100 has gained 7,224 points or 9.21% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 23,218 points, equivalent to 37.18%.

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