PSX Closing Bell: Waiting for a Star to Fall

June 27, 2023 (MLN): The benchmark KSE-100 index cooled off after yesterday's surge, consequently ending the trading session at 41,452.68, gaining 15.58 points.

The index saw a decline of around 250 points in the early hours of the trading session, before bulls stepped in to continue yesterday's rally.

Investors' sentiment was impacted by yesterday's emergency meeting decision of the Monetary Policy Committee (MPC) to raise the policy rate by 100 basis points to 22%.

Additionally, investors are eagerly awaiting the outcome of Pakistan's ninth review under the 2019 Extended Fund Facility (EFF), which aims to secure a $1.2 billion tranche release from the IMF. The program is set to expire on June 30, 2023, with less than a week remaining.

The index traded in a range of 398.06 points showing an intraday high of 41,606.25 and a low of 41,208.19.

Total Volume of the KSE100 Index was 138.021 million shares.

Of the companies in KSE100 49 closed up, 42 closed down, 2 were unchanged while 7 remained untraded.

KSE100 index was supported by Commercial Banks with 120.14, Power Generation & Distribution with 9.68, Tobacco with 9.67, Engineering with 9.43 and Inv. Banks / Inv. Cos. / Securities Cos. with 5.93 points.

Companies adding points to the index were HBL with 67.82, BAHL with 26.72, PSO with 14.5, OGDC with 13.02 and BAFL with 12.02 points.

KSE100 Index was let down by Fertilizer with 61.48, Cement with 33.91, Technology & Communication with 22.35, Oil & Gas Exploration Companies with 22.25 and Glass & Ceramics with 5.59 points.

Companies dragging the index lower were ENGRO with 31.4, POL with 26.56, SYS with 24.11, EFERT with 23.74 and FFC with 18.82 points.

In the broader market, the All-Share index closed at 28,111.03 with a net gain of 145.06 points.

Total market volume was 234.748 million shares with traded value being recorded at 7.48 billion.

There was 102,794 trades reported in 305 companies with 136 closing up, 154 closing down and 15 remaining unchanged.

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