PSX Closing Bell: Two Steps Forward

September 25, 2024 (MLN): The benchmark KSE-100 Index concluded Wednesday's trading session at 82,247.91, showing an increase of 764.27 points or 0.94%.

"This uptick was largely driven by investor optimism ahead of the IMF board meeting, with hopes for the approval of Pakistan's 37-month EFF arrangement worth approximately $7 billion," noted brokerage house Ismail Iqbal Securities in its post-market report.

The index remained positive throughout the day showing an intraday high of 82,331.85 (+848.21) and a low of 81,524.41 (+40.77) points.

The total volume of the KSE-100 Index was 155.31 million shares.

Of the 100 index companies 66 closed up, 30 closed down, 3 were unchanged, while 1 remained untraded.

Top gainers during the day were YOUW (+11.59%), KTML (+7.76%), GLAXO (+7.45%), NBP (+5.35%), and THALL (+5.06%).

On the other hand, top losers were SPWL (-3.25%), HABSM (-2.17%), SHFA (-1.84%), SCBPL (-1.70%), and BNWM (-1.39%).

In terms of index-point contributions, companies that propped up the index were MCB (+150.56pts), OGDC (+93.92pts), NBP (+49.10pts), UBL (+40.24pts), and BAHL (+38.76pts).

Meanwhile, companies that dragged the index lower were FFC (-61.80pts), HUBC (-27.70pts), FFBL (-7.90pts), INDU (-6.95pts), and SCBPL (-6.39pts).

Sector-wise, KSE-100 Index was supported by Commercial Banks (+371.31pts), Oil & Gas Exploration Companies (+130.80pts), Cement (+120.70pts), Pharmaceuticals (+32.79pts), and Leather & Tanneries (+32.01pts).

While the index was let down by Fertilizer (-41.81pts), Power Generation & Distribution (-11.82pts), Miscellaneous (-7.82pts), Sugar & Allied Industries (-1.97pts), and Tobacco (-0.87pts).

In the broader market, the All-Share Index closed at 52,618.25 with a net gain of 506.15 points or 0.97%.

Total market volume was 422.16 million shares compared to 369.62m from the previous session while traded value was recorded at Rs18.38 billion showing an increase of Rs1.32bn.

There were 212,408 trades reported in 437 companies with 248 closing up, 126 closing down, and 63 remaining unchanged.

To note, the KSE-100 has gained 3,803 points or 4.85% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 19,797 points, equivalent to 31.70%.

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