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PSX Closing Bell: Without Boundaries

PSX Closing Bell: Without Boundaries
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December 04, 2023 (MLN): The benchmark KSE-100 Index kicked off the week with strong bullish momentum, closing at another record high of 62,493.05 with a daily increase of 801.80 points or 1.3%.

The index remained positive throughout the day, showing an intraday high of 62,912.61 (+1,221.36) and a low of 62,061.57 (+370.31) points.

The total volume of the KSE-100 Index was 368.996 million shares.

Investors' confidence remains uplifted amid hopes of improved economic conditions following the expected inflows from IMF and friendly countries, relatively stable currency amid government-backed administrative efforts, and a possible slash in the interest rates.

In a recent development, the IMF lauded the efforts of the caretaker federal government of Pakistan to maintain economic stability and the timely implementation of reforms on Friday.

Moreover, the latest trade numbers released by SBP show a trade deficit of $9.38bn, which is 33.59% lower than the same period last year.

To note, last week, the index registered 9th consecutive weekly gain, with an increase of 2,677 points or 4.53% WoW.

In today's session, of the 100 index companies 56 closed up, 21 closed down, while 23 remained untraded.

KSE-100 index was supported by Oil & Gas Exploration Companies with 273.46, Automobile Assembler with 81.29, Oil & Gas Marketing Companies with 64.18, Food & Personal Care Products with 58.97, and Fertilizer with 57.95 points.

Companies adding points to the index were PPL with 107.77, OGDC with 98.23, MTL with 68.59, MARI with 58.64, and HUBC with 43.08 points.

KSE-100 Index was let down by Synthetic & Rayon with 4.86, Tobacco with 2.29, Textile Spinning with 2.07, Vanaspati & Allied Industries with 0.34, and Automobile Parts & Accessories with 0.2 points.

Companies dragging the index lower were UBL with 17.67, LUCK with 11.69, MLCF with 8.06, HMB with 7.72 and MCB with 7.67 points.

In the broader market, the All-Share index closed at 41,602.68 with a net gain of 557.30 points.

Total market volume was 734.295 million shares compared to 531.334 from the previous session while traded value was recorded at Rs31.64 billion showing an increase of Rs10.08bn.

This was the ninth-highest traded daily value in PKR terms for the index.

Top 10 Traded Value in a Day
1 53,337,571,532 31-May-17
2 42,852,152,356 14-Jun-21
3 42,837,913,995 27-May-21
4 35,597,269,558 11-Feb-21
5 34,822,835,004 30-Nov-21
6 32,586,140,444 29-Jan-21
7 32,048,800,600 31-May-21
8 31,658,742,817 03-Jun-21
9 31,641,082,675 04-Dec-23
10 30,530,068,865 01-Feb-21

There were 310,137 trades reported in 387 companies with 248 closing up, 120 closing down and 19 remaining unchanged.

WTL remained the volume leader with 57.1m shares traded, followed by FCCL with 41.98m shares, OGDC with 23.81m shares, PPL with 23.52m shares, and PRL with 22.7m shares.

To note, the KSE-100 has gained 21,040 points or 50.76% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 22,073 points, equivalent to 54.61% in the KSE-100.

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Posted on: 2023-12-04T16:21:15+05:00