PSX Closing Bell: Uptown Funk

May 30, 2023 (MLN): The capital market on Tuesday maintained its bullish momentum as the benchmark KSE-100 Index added 331.59 points to close the session at 41,671.65. 

The optimism stemmed from the positive newsflows pertaining to the business-friendly budget FY24 and investors' expectations of bonus shares announcement by big companies in the upcoming financial results. 

The index traded in a range of 331.4 points showing an intraday high of 41,693.46 and a low of 41,362.06.

The total Volume of the KSE100 Index was 104.07 million shares.

Of the companies in KSE100 63 closed up, 28 closed down, 4 were unchanged while 5 remained untraded.

KSE100 index was supported by Cement with 104.59, Oil & Gas Exploration Companies with 69.54, Technology & Communication with 62.22, Food & Personal Care Products with 33.69 and Fertilizer with 29.71 points.

Companies adding points to the index were LUCK with 72.57, SYS with 45.4, HBL with 43.97, PPL with 26.75 and OGDC with 21.15 points.

KSE100 Index was let down by Property with 9.06, Textile Composite with 8.61, Automobile Parts & Accessories with 4.65, Glass & Ceramics with 3.79 and Commercial Banks with 3.19 points.

Companies dragging the index lower were HMB with 20.08, MCB with 12.08, UBL with 12.07, JVDC with 9.06 and BAFL with 9.01 points.

In the broader market, the All-Share index closed at 27,907.95 with a net gain of 257.83 points.

Total market volume was 197.681 million shares with traded value being recorded at 6.46 billion.

There were 88,319 trades reported in 340 companies with 211 closing up, 105 closing down and 24 remaining unchanged.

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