PSX Closing Bell: Well Runs Dry

News Image

MG News | January 12, 2024 at 05:20 PM GMT+05:00

0:00

January 12, 2024 (MLN): The Pakistan stock market opened on a bullish note following the International Monetary Fund’s approval of the second loan tranche worth $700 million.

However, investors opted to lock in profits in the second half of the session, stripping off all the earlier gains.

By the session’s end, the benchmark KSE-100 index settled flat at 64,637.64, with a marginal gain of 20.07 points or 0.03% DoD.

The index traded in a range of 865.77 points showing an intraday high of 65,356.85 (+739.28) and a low of 64,491.08 (-126.49) points.

The total volume of the KSE-100 index was 402.906 million shares.

The IMF's aid will likely provide enough financing to cover external financing gaps until FY24, with a notable $1 billion dollar-denominated debt due in April.

Accordingly, the nation would need another loan from the IMF to support the economy, as Caretaker Federal Finance Minister Shamshad Akhtar has also stressed.

While, in a positive development, the Pakistani Rupee (PKR) recorded its ninth weekly win against the US Dollar amid increased liquidity in the foreign exchange market, a shrinking money supply, a balance of payments surplus, and a moratorium on Chinese debt repayments.

In today's session, advancers to decliners remained equally distributed, with 41 companies closing up and 52 closing down.

Meanwhile 2 were unchanged and 5 remained untraded.

KSE-100 index was supported by Commercial Banks with 84.71, Oil & Gas Exploration Companies with 84.14, Fertilizer with 12.85, Transport with 10.26, and Synthetic & Rayon with 8.5 points.

On the contrary, the index was let down by Power Generation & Distribution with 34.56, Cement with 34.09, Technology & Communication with 25.49, Chemical with 19.51, and Leather & Tanneries with 16.26 points.

Companies adding points to the index were MARI with 52.62, EFERT with 32.7, PPL with 23.56, MEBL with 22.74, and BAHL with 19.33 points.

Meanwhile, companies that dragged the index lower were HUBC with 33.13, TRG with 17.06, SRVI with 16.26, LOTCHEM with 14.02 and FFC with 13.62 points.

In the broader market, the All-Share index closed at 43,740.13 with a net gain of 29.45 points.

Total market volume was 643.308 million shares compared to 586.549 from the previous session while traded value was recorded at Rs20.02 billion showing an increase of Rs3bn.

There were 211,667 trades reported in 363 companies with 135 closing up, 216 closing down and 12 remaining unchanged.

Company Volume

Top Ten by Volume

KEL 142,486,004
PIBTL 77,950,500
WTL 27,001,294
PIAA 26,239,000
PPL 24,740,483
PTC 23,129,261
JSBL 19,919,000
HASCOL 19,613,500
CNERGY 19,162,301
TREET 18,214,818

To note, the KSE-100 has gained 23,185 points or 55.93% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 2,187 points, equivalent to 3.5%.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,665.50
299.28M
1.68%
2285.53
ALLSHR 85,699.50
778.48M
1.24%
1051.15
KSE30 42,353.14
103.20M
1.94%
806.91
KMI30 195,182.04
107.99M
1.81%
3462.27
KMIALLSHR 56,389.15
437.73M
1.01%
561.42
BKTi 38,422.98
17.31M
1.57%
595.37
OGTi 27,718.26
13.25M
0.17%
47.58
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 120,480.00 121,095.00
120,410.00
1190.00
1.00%
BRENT CRUDE 69.65 69.67
68.27
1.13
1.65%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
0.95
0.99%
ROTTERDAM COAL MONTHLY 105.00 105.00
105.00
-0.15
-0.14%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.31 66.33
66.26
-0.07
-0.11%
SUGAR #11 WORLD 16.75 16.88
16.54
0.19
1.15%

Chart of the Day


Latest News
July 17, 2025 at 09:25 PM GMT+05:00

Auto financing in Pakistan rises to Rs277bn in June


July 17, 2025 at 09:08 PM GMT+05:00

SBP reserves rise to $14.53bn in a week


July 17, 2025 at 05:11 PM GMT+05:00

Gold price in Pakistan falls Rs900 per tola


July 17, 2025 at 04:53 PM GMT+05:00

PSX calls for market feedback on free-float reforms


July 17, 2025 at 04:30 PM GMT+05:00

KTML Board proposes share sub-division to Rs2 face value



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg