August 17, 2023 (MLN): The benchmark KSE-100 Index bounced back on Thursday, closing the trading session at 48,325.84 with a gain of 179.4 points or 0.37% DoD.

The index traded in a range of 503.66 points showing an intraday high of 48,397.37 and a low of 47,893.71.

Total Volume of the KSE100 Index was 101.396 million shares.

Of the 100 index companies 53 closed up, 36 closed down, 5 were unchanged while 6 remained untraded.

KSE100 index was supported by Technology & Communication with 79.68, Oil & Gas Exploration Companies with 79.17, Refinery with 27.77, Textile Composite with 24.41 and Oil & Gas Marketing Companies with 17.13 points.

Companies adding points to the index were SYS with 79.05, POL with 28.83, PPL with 25.25, OGDC with 22.74 and FFC with 21.08 points.

The index was pulled down by the Fertilizer sector with 59.56 points, mainly led by Engro which dragged the index down by 94.9 points after announcing a disappointing interim cash dividend of Rs2 per share, i.e. 20%, for 2QCY23. This was far below the street expectations of an Rs10-35 dividend.

Additional contributors to the index's decline included Commercial Banks with 24.42, Inv. Banks / Inv. Cos. / Securities Cos. with 12.96, Food & Personal Care Products with 7.68, and Engineering with 3.38 points.

Other companies dragging the index lower were MCB with 30.53, MEBL with 15.9, DAWH with 14.46, and LUCK with 8.88 points.

In the broader market, the All-Share index closed at 32,009.1 with a net gain of 99.44 points.

Total market volume was 226.935 million shares compared to 194.577 from the previous session while traded value being recorded at 10.02 billion showing an increase of Rs.2.35 billion.

There was 127,529 trades reported in 321 companies with 154 closing up, 144 closing down and 23 remaining unchanged.

KSE-100 Weekly time-frame chart

Copyright Mettis Link News

Posted on: 2023-08-17T16:26:38+05:00