PSX Closing Bell: U-turn

November 20, 2024 (MLN): Pakistan stock market kicked off the day on a bullish note, but then gave up all of its advance to end the session in red.

The benchmark KSE-100 Index closed at 95,546.45, showing a decrease of 310.21 points or 0.32%.

The index traded in a range of 1,399.36 points showing an intraday high of 96,711.33 (+854.67) and a low of 95,311.97 (-544.69) points.

The total volume of the KSE-100 Index was 565.38 million shares.

Of the 100 index companies 28 closed up, 70 closed down, while 2 were unchanged.

Top losers during the day were PSEL (-5.28%), POML (-5.09%), SNGP (-4.75%), NML (-4.00%), and SYS (-4.00%).

Sui Northern Gas Pipelines Limited (PSX: SNGP) revealed its Q3 FY24 results, wherein the company posted a net profit of Rs3.7 billion [EPS: Rs5.83] during the quarter ending March 2024, up 62.3% from the same period last year (SPLY).

On the other hand, top gainers were KOSM (+10.73%), KAPCO (+8.38%), COLG (+7.39%), YOUW (+4.93%), and PGLC (+4.52%).

In terms of index-point contributions, companies that dragged the index lower were SYS (-125.57pts), HBL (-79.88pts), LUCK (-51.79pts), MCB (-50.12pts), and SNGP (-40.62pts).

Meanwhile, companies that added points to the index were FFC (+236.10pts), COLG (+80.57pts), KAPCO (+37.60pts), HUBC (+37.39pts), and FFBL (+30.62pts).

Sector-wise, KSE-100 Index was let down by Technology & Communication (-132.60pts), Commercial Banks (-104.71pts), Cement (-89.91pts), Oil & Gas Marketing Companies (-77.94pts), and Oil & Gas Exploration Companies (-62.83pts).

While the index was supported by Fertilizer (+235.97pts), Food & Personal Care Products (+72.66pts), Power Generation & Distribution (+58.15pts), Automobile Parts & Accessories (+13.66pts), and Engineering (+8.34pts).

In the broader market, the All-Share Index closed at 61,182.17 with a net loss of 23.46 points or 0.04%.

Total market volume was 1,138.41 million shares compared to 830.93m from the previous session while traded value was recorded at Rs37.48 billion showing an increase of Rs7.46bn.

There were 418,341 trades reported in 456 companies with 156 closing up, 251 closing down, and 49 remaining unchanged.

To note, the KSE-100 has gained 17,101 points or 21.80% during the fiscal year, whereas it has increased 33,095 points or 52.99% so far this calendar year.

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