November 22, 2023 (MLN): The benchmark KSE-100 index closed at another record high above the 58,000 mark, following a short period of consolidation over the past few trading sessions.
In today's session, the index surged by 827.17 points or 1.44% to settle at 58,198.76.
The index remained positive throughout the day, showing an intraday high of 58,405.92 (+1,034.33) and a low of 57,418.50 (+46.91) points.
The total volume of the KSE-100 Index was 256.574 million shares.
The positivity continues to be fueled by hopes of better economic conditions, following the International Monetary Fund (IMF)’s preliminary approval for the release of the next loan tranche under the current $3 billion loan program.
Upon approval, Pakistan will have access to SDR 528 million, which is around $700 million.
In a related development, the Pakistani Rupee (PKR) posted the fifth consecutive daily gain against the US Dollar today, showing signs of resilience.
In today's session, of the 100 index companies 61 closed up, 17 closed down, 1 was unchanged, while 21 remained untraded.
KSE-100 index was supported by Commercial Banks with 246.6, Oil & Gas Exploration Companies with 145.6, Oil & Gas Marketing Companies with 99.52, Fertilizer with 95.29, and Cement with 93.51 points.
Companies adding points to the index were MEBL with 89.37, BAHL with 70.99, LUCK with 70.86, PSO with 63.63, and PPL with 57.33 points.
KSE-100 Index was let down by Automobile Parts & Accessories with 11.18, Power Generation & Distribution with 10.02, Insurance with 7.08, Cable & Electrical Goods with 5.45, and Inv. Banks / Inv. Cos. / Securities Cos. with 3.49 points.
Companies dragging the index lower were THALL with 11.18, ABL with 9.69, DAWH with 6.85, KEL with 6.7 and HUBC with 5.9 points.
In the broader market, the All-Share index closed at 39,075.47 with a net gain of 566.31 points.
Total market volume was 596.218 million shares compared to 1,012.258 from the previous session while traded value was recorded at Rs22.05 billion showing an increase of Rs2.72bn.
There were 242,103 trades reported in 384 companies with 232 closing up, 135 closing down and 17 remaining unchanged.
| Company | Volume |
|---|---|
| WTL | 50,345,392 |
| FFBL | 23,277,000 |
| FFL | 20,177,342 |
| KEL | 19,602,441 |
| SNGP | 16,825,691 |
| TELE | 15,838,717 |
| SSGC | 15,578,128 |
| AIRLINK | 15,161,698 |
| ASC | 14,030,857 |
| PRL | 13,920,397 |
To note, the KSE-100 has gained 16,746 points or 40.4% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 17,778 points, equivalent to 43.98% in the KSE-100.
Copyright Mettis Link News
Posted on:2023-11-22T16:21:10+05:00
41658
