PSX Closing Bell: What, Me worry??

November 29, 2021 (MLN): Despite the knock of the new variant of Coronavirus- Omicron, Pakistan equities witnessed a strong buying activity as the benchmark KSE-100 index managed to secure 1215.89 points to settle the trade at 45,330.05- mark on Monday, the highest gain since April 2020.

The investors remained upbeat throughout the session on the back of the Federal Cabinet's approval of two loan agreements with Saudi Arabia worth $4.2billion.

The show initially commenced with the blue chips stocks which lured investors' interest in the morning. Trading at dirt cheap multiple due to the consistent foreign selling, blue chips stocks were the first preference of the value hunters, the market closing note by Topline Securities noted.

The Index traded in a range of 1473.05 points or 3.34 percent of the previous close, observed an intraday high of 45,415.82 and a low of 43,942.77.

Of the 95 traded companies in the KSE100 Index 83 closed up 10 closed down, while 2 remained unchanged. The total volume traded for the index was 109.63 million shares.

Sectors propping up the index were commercial banks with 283 points, cement with 211 points, oil & gas exploration companies with 139 points, fertilizer with 100 points, and oil & gas marketing companies with 76 points.

The most points added to the index were by HBL which contributed 102 points followed by LUCK with 89 points, PPL with 70 points, PSO with 59 points, and MCB with 57 points.

Sector-wise, the index was let down by Glass & Ceramics with 1 point.

The most points taken off the index was by SCBPL which stripped the index of 2 points followed by COLG with 2 points, ATLH with 1 point, and GHGL with 1 point.

All share volume decreased by 21.61 million to 268.24 million shares. Market capital increased by Rs170.69 billion.

Total companies traded were 358 compared to 338 from the previous session. Of the scrips traded 263 closed up, 76 closed down while 19 remained unchanged.

Total trades increased by 11,529 to 124,778.

Value traded increased by 0.63 billion to Rs10.90 billion

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