November 11, 2022 (MLN): The Pakistan Stock Exchange (PSX) maintained the bullish trend on Friday as the benchmark KSE-100 index moved up by 191.68 points (0.45% DoD) to close the session at 43,092.95.
Initially, the market witnessed selling pressure. However, it continued to rise in the second hour and closed positive.
While speaking to MG Link News, Arif Habib Securities Head of Research Tahir Abbas said that the market is expected to remain range bound in the upcoming week as the participants will remain cautious due to the political noise in the country.
Furthermore, any positive news coming from the Finance Minister Ishaq Dar visit to the UAE and IMF 9th review will benefit the market, he added.
The benchmark KSE-100 index made an intraday high of 43,120.83 and an intraday low of 42,805.88 during the day.
By the session’s end, the total volumes of the KSE-100 index stood at 103mn shares, decreased by 27.46% DoD from 142mn shares traded on Thursday.
In terms of sectors, most of the positive contributions came from oil & gas exploration, technology, oil & gas marketing, tobacco, and food sector which cumulatively added 276.92 points to the index tally by the day’s end.
Out of 93 companies’ shares traded today 40 companies recorded gains and 50 companies sustained losses and three company share remains unchanged.
Meanwhile, the volume leaders on the benchmark index were CNERGY (21.14mn), OGDC (12.54mn), PPL (10.75mn), BAFL (8.74mn), and ATRL (4.52mn).
The scrips which gained the most during the session included: NESTLE (4.41%), PAKT (4.37%), TRG (7.49%), NRL (3.65%), and PSO (2.80%). On the other hand, the stocks that emerged as net losers during the day included PSEL (7.50%), SRVI (2.38%), THALL (1.66%), PKGS (0.67%), and MTL (0.35%).
