PSX: Closing Bell: The Clock Is Ticking

November 04, 2024 (MLN): Pakistan stocks extended their record-breaking rally ahead of the monetary policy review scheduled for later in the day, where the investors were eyeing another large rate cut by the central bank.

The benchmark KSE-100 Index rose 1,078.15 points or 1.19% to close at 91,938.00.

The index remained positive throughout the day showing an intraday high of 92,159.08 (+1,299.23) and a low of 91,395.35 (+535.50) points.

The total volume of the KSE-100 Index was 311.38 million shares.

Of the 100 index companies 73 closed up, 25 closed down, 1 was unchanged, while 1 remained untraded.

Top gainers during the day were AGP (+9.36%), SYS (+9.35%), CHCC (+8.85%), PABC (+7.57%), and AIRLINK (+7.44%).

On the other hand, top losers were PGLC (-7.96%), NBP (-3.38%), PPL (-2.72%), MCB (-2.53%), and BNWM (-2.14%).

In terms of index-point contributions, companies that propped up the index were SYS (+267.46pts), LUCK (+103.53pts), CHCC (+91.37pts), HUBC (+85.64pts), and ENGRO (+63.01pts).

Meanwhile, companies that dragged the index lower were PPL (-89.64pts), MCB (-85.42pts), HBL (-36.40pts), NBP (-33.92pts), and BAFL (-9.91pts).

Sector-wise, KSE-100 Index was supported by Cement (+356.27pts), Technology & Communication (+301.99pts), Power Generation & Distribution (+114.04pts), Fertilizer (+99.91pts), and Pharmaceuticals (+83.10pts).

While the index was let down by Commercial Banks (-123.77pts), Oil & Gas Exploration Companies (-56.80pts), Leather & Tanneries (-8.34pts), Automobile Parts & Accessories (-1.21pts), and Textile Spinning (-0.37pts).

In the broader market, the All-Share Index closed at 58,408.13 with a net gain of 536.07 points or 0.93%.

Total market volume was 589.55 million shares compared to 465.87m from the previous session while traded value was recorded at Rs29.96 billion showing an increase of Rs6.87bn.

There were 296,167 trades reported in 444 companies with 258 closing up, 139 closing down, and 47 remaining unchanged.

To note, the KSE-100 has gained 13,493 points or 17.20% during the fiscal year, whereas it has increased 29,487 points or 47.22% so far this calendar year.

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