PSX Closing Bell: The Big four-oh

October 16, 2024 (MLN): Pakistan’s benchmark KSE-100 Index closed above 86,000 for the first time in history to notch its 40th record this year.

KSE-100 jumped 365.32 points or 0.43% to close at an all-time high of 86,205.66.

The index is up 23,755 points or 38.04% so far this year. That comes despite heavy foreign selling in the last two months.

The South Asian nation’s economy continues to move towards stability, in no small part thanks to the International Monetary Fund’s support

The index remained positive throughout the day showing an intraday high of 86,513.46 (+673.12) and a low of 85,948.05 (+107.71) points.

The total volume of the KSE-100 Index was 259.49 million shares.

Of the 100 index companies 60 closed up, 37 closed down, while 3 were unchanged.

Top gainers during the day were NPL (+10.00%), NCPL (+10.00%), SEARL (+9.12%), JDWS (+8.47%), and PAKT (+6.93%).

On the other hand, top losers were YOUW (-4.03%), KOSM (-3.56%), UBL (-1.90%), HBL (-1.76%), and DCR (-1.61%).

In terms of index-point contributions, companies that propped up the index were PPL (+96.62pts), HUBC (+90.87pts), PSO (+70.83pts), OGDC (+66.70pts), and SEARL (+43.58pts).

Meanwhile, companies that dragged the index lower were UBL (-89.58pts), HBL (-45.54pts), MCB (-38.07pts), POL (-36.65pts), and MEBL (-33.17pts).

Sector-wise, KSE-100 Index was supported by Oil & Gas Exploration Companies (+134.17pts), Power Generation & Distribution (+123.17pts), Oil & Gas Marketing Companies (+117.76pts), Pharmaceuticals (+62.63pts), and Tobacco (+28.93pts).

While the index was let down by Commercial Banks (-225.95pts), Fertilizer (-14.48pts), Real Estate Investment Trust (-5.73pts), Engineering (-4.85pts), and Technology & Communication (-4.80pts).

In the broader market, the All-Share Index closed at 55,292.64 with a net gain of 350.98 points or 0.64%.

Total market volume was 474.33 million shares compared to 422.11m from the previous session while traded value was recorded at Rs26.94 billion showing an increase of Rs2.48bn.

There were 301,567 trades reported in 444 companies with 227 closing up, 149 closing down, and 68 remaining unchanged.

To note, the KSE-100 has gained 7,761 points or 9.89% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 23,755 points, equivalent to 38.04%.

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