PSX rides upswing, gains over 200 points

February 08, 2023 (MLN): The capital market on Wednesday remained in green as the investors opted for value buying which led the benchmark KSE-100 index to gain 200.56 points to settle at 41,723.32.

The investors also cheered the news flows about the settlement of circular debt of state-owned energy enterprises along with possible settlement with IMF as the government is trying to comply with the fund’s condition.

The Index traded in a range of 442.67 points or 1.07 percent of the previous close, showing an intraday high of 41,848.71 and a low of 41,406.04.

Of the 92 traded companies in the KSE100 Index 57 closed up 30 closed down, and 5 remained unchanged. The total volume traded for the index was 147.38 million shares.

Sectors propping up the index were Technology & Communication with 78 points, Oil & Gas Exploration Companies with 47 points, Pharmaceuticals with 44 points, Chemical with 28 points and Cement with 12 points.

The most points added to the index was by SYS which contributed 52 points followed by POL with 52 points, TRG with 24 points, MCB with 18 points and HBL with 18 points.

Sector-wise, the index was let down by Fertilizer with 14 points, Power Generation & Distribution with 8 points, Automobile Parts & Accessories with 4 points, Oil & Gas Marketing Companies, and Sugar & Allied Industries with 3 points.

The most points taken off the index was by PPL which stripped the index of 19 points followed by FFC with 18 points, UBL with 14 points, HMB with 12 points, and HUBC with 9 points.

All Share Volume increased by 1.18 million to 297.77mn shares. Market Capital increased by Rs24.73 billion.

The total companies traded were 346 compared to 357 from the previous session. Of the scrips traded 185 closed up, 132 closed down and 29 remained unchanged.

During the session, the total trades decreased by 9,947 to 140,019 while the value traded dropped by 0.45bn to Rs12.07bn.

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