PSX Closing Bell: Walk on Sunshine

September 19, 2023 (MLN): The benchmark KSE-100 index continued its upward trend on Tuesday, closing at 45,910.47 with a rise of 107.28 points or 0.23%.

The index remained positive throughout the session touching an intraday high of 46,036.04 (+232.85) points.

The trading volume increased to 57.1 million shares from 38.5m shares on Monday.

Of the 100 index companies 49 closed up, 40 closed down, 5 were unchanged, while 6 remained untraded.

The index was supported by positive news from the oil and gas exploration sector, as OGDC announced a gas discovery at the Mari East Block.

Oil stocks also gained momentum as global crude prices soared above $95 a barrel, a level not seen since November 2022.

Accordingly, KSE100 index was supported by Oil & Gas Exploration Companies with 26.34, Commercial Banks with 26.09, Chemical with 25.64, Technology & Communication with 20.59, and Automobile Parts & Accessories with 18.42 points.

Companies adding points to the index were UBL with 31.66, TRG with 26.33, THALL with 18.42, OGDC with 16.94, and MTL with 13.35 points.

Moreover, the market sentiment has also seen a boost after the SBP’s decision to keep the policy rate unchanged at 22%.

On the flip side, KSE100 Index was let down by Cement with 24.66, Fertilizer with 12.89, Power Generation & Distribution with 8.42, Engineering with 4.19, and Inv. Banks / Inv. Cos. / Securities Cos. with 0.68 points.

Companies dragging the index lower were FFC with 12.12, MCB with 10.89, HUBC with 10.67, LUCK with 7.85 and SYS with 7.54 points.

In the broader market, the All-Share index closed at 30,639.33 with a net gain of 143.82 points. 

Total market volume was 117.145 million shares compared to 103.495 from the previous session, while traded value was recorded at Rs4.11 billion showing an increase of Rs0.81bn.

There were 75,265 trades reported in 321 companies with 160 closing up, 144 closing down and 27 remaining unchanged.

KSE-100 Historical Performance

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