September 07, 2023 (MLN): The Pakistan stock market witnessed a somewhat volatile session on Thursday, as the KSE-100 index tested the 46,000 level during the session but failed to sustain it and sold off sharply in the later part of the day.

The index ultimately concluded the session at 45,757.24, showing a decline of 50.34 points or 0.11% compared to the previous day.

Meanwhile, the Pakistani Rupee (PKR) continued its impressive performance in the open market, gaining an additional 6 rupees. Over the past few days, the PKR has strengthened significantly, tallying a remarkable total gain of 27 rupees.

Simultaneously, in the interbank market, the local currency saw a 2-rupee appreciation in today's session.

Despite these favorable currency movements, the stock market remained relatively unaffected and failed to experience a significant boost.

The KSE-100 index traded in a range of 332.28 points showing an intraday high of 46,035.81 (+228.23) and a low of 45,703.53 (-104.05) points.

Total Volume of the KSE100 Index was 98.985 million shares.

Of the 100 index companies 33 closed up, 52 closed down, 8 were unchanged while 7 remained untraded.

MLCF attracted considerable attention today, primarily owing to its buyback announcement, as the company revealed plans to repurchase a maximum of 100 million issued ordinary shares, each with a face value of Rs10, at the current market share price.

KSE100 Index was let down by Cement with 72.97, Commercial Banks with 67.9, Technology & Communication with 29.37, Power Generation & Distribution with 7.44 and Automobile Assembler with 6.47 points.

Companies dragging the index lower were LUCK with 47.4, UBL with 28.0, BAFL with 23.93, BAHL with 18.48 and SYS with 16.26 points.

KSE100 index was supported by Inv. Banks / Inv. Cos. / Securities Cos. with 56.08, Oil & Gas Marketing Companies with 49.42, Textile Composite with 14.94, Oil & Gas Exploration Companies with 14.39 and Tobacco with 13.36 points.

Companies adding points to the index were DAWH with 56.63, PPL with 24.76, PSO with 18.39, ILP with 15.63 and MEBL with 14.53 points.

In the broader market, the All-Share index closed at 30,509.25 with a net gain of 39.23 points.

Total market volume was 177.063 million shares compared to 139.711 from the previous session while traded value being recorded at 7.58 billion showing an increase of Rs.2.77 billion.

There was 117,935 trades reported in 320 companies with 139 closing up, 159 closing down and 22 remaining unchanged.

KSE-100 Historical Performance

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Posted on: 2023-09-07T16:24:58+05:00