PSX Closing Bell: Waiting Game

March 08, 2024 (MLN): Pakistan stock market ended the day mixed, with traders bracing for upcoming monetary policy meeting to take clues on the market's next major direction.

However, the KSE-100 index hovered close to its all-time highs throughout the week. It gained 468 points or 0.72% WoW.

In Friday’s session, the index closed at 65,793.76 showing an increase of 190.67 points or 0.29% compared to previous close.

The index remained positive throughout the day, showing an intraday high of 66,067.53 (+464.44) and a low of 65,693.22 (+90.13) points.

The total volume of the KSE-100 index was 240.097 million shares.

Of the 100 index companies 58 closed up, 36 closed down, 1 was unchanged, while 5 remained untraded.

Cnergyico Pk Limited’s (PSX: CNERGY) stock price surged 6.77% today, with all the gains coming in the last 15 minutes of the session after it announced its plans to invest over $1 billion in Euro V Refinery Upgrade.

KSE-100 index was supported by Inv. Banks / Inv. Cos. / Securities Cos. with 106.32, Refinery with 39.28, Oil & Gas Marketing Companies with 27.36, Cement with 24.9, and Miscellaneous with 22.92 points.

On the contrary, the index was let down by Commercial Banks with 82.61, Oil & Gas Exploration Companies with 12.5, Paper & Board with 4.61, Chemical with 3.98, and Automobile Parts & Accessories with 3.28 points.

Companies adding points to the index were DAWH with 102.61, EFERT with 21.49, PSEL with 18.04, SHEL with 17.3, and NRL with 15.8 points.

Meanwhile, companies that dragged the index lower were UBL with 32, MEBL with 28.71, FFC with 16.61, HUBC with 10.5 and MCB with 9.97 points.

In the broader market, the All-Share index closed at 43,677.11 with a net gain of 207.61 points.

Total market volume was 481.704 million shares compared to 354.153 from the previous session while traded value was recorded at Rs16.99 billion showing an increase of Rs2.54bn.

There were 194,515 trades reported in 355 companies with 206 closing up, 119 closing down and 30 remaining unchanged.

To note, the KSE-100 has gained 24,341 points or 58.72% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 3,343 points, equivalent to 5.35%.

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