PSX Closing Bell: Steady Strides

January 03, 2025 (MLN): The benchmark KSE-100 Index concluded Friday's trading session at 117,586.98, showing an increase of 467.33 points or 0.40%.

The index traded in a range of 2,311.61 points showing an intraday high of 117,891.62 (+771.97) and a low of 115,580.01 (-1,539.64) points.

The total volume of the KSE-100 Index was 398.07 million shares.

While speaking to Mettis Global, Ali Najib, Head of Equity Sales at Insight Securities said that rumours regarding decartelization in the cement sector put the sector’s stocks onto the firing range as investors opted to book profit in them compelling the whole cement sector to bear selling headwinds. That’s why, LUCK, FCCL, PIOC, KOHC & DGKC lost 315 points, cumulatively.

Conversely, the fertilizer sector continued to remain a blue-eyed sector where stockholder further strengthened their positions in anticipation of better-than-expected final quarter results along with handsome dividends in them. Therefore, EFERT, FFC & DAWH contributed 849 points to the index, positively, he added. 

Of the 100 index companies 44 closed up, 55 closed down, while 1 was unchanged.

Top gainers during the day were PGLC (+10.02%), BNWM (+10.01%), PSX (+9.77%), EFERT (+9.46%), and MEHT (+7.42%).

On the other hand, top losers were PIOC (-6.91%), FCCL (-6.04%), MLCF (-5.29%), KOHC (-4.92%), and DGKC (-4.27%).

In terms of index-point contributions, companies that propped up the index were EFERT (+402.89pts), FFC (+271.18pts), DAWH (+175.23pts), HBL (+85.18pts), and ENGRO (+61.56pts).

Meanwhile, companies that dragged the index lower were LUCK (-127.50pts), SYS (-113.95pts), PPL (-113.25pts), FCCL (-62.32pts), and PIOC (-48.93pts).

Sector-wise, KSE-100 Index was supported by Fertilizer (+770.95pts), Inv. Banks / Inv. Cos. / Securities Cos. (+226.35pts), Commercial Banks (+157.57pts), Automobile Assembler (+33.06pts), and Textile Composite (+30.65pts).

While the index was let down by Cement (-383.99pts), Technology & Communication (-170.48pts), Oil & Gas Exploration Companies (-127.76pts), Power Generation & Distribution (-82.24pts), and Pharmaceuticals (-36.31pts).

In the broader market, the All-Share Index closed at 72,843.62 with a net loss of 20.28 points or 0.03%.

Total market volume was 935.78 million shares compared to 1,037.86m from the previous session while traded value was recorded at Rs39.62 billion showing a decrease of Rs6.95bn.

There were 396,438 trades reported in 455 companies with 166 closing up, 246 closing down, and 43 remaining unchanged.

To note, the KSE-100 has gained 39,142 points or 49.90% during the fiscal year, whereas it has increased 2,460 points or 2.14% so far this calendar year.

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