PSX Gain 179 Points For Day Four To End The Year On A High Note
KARACHI: The Pakistan Stock Exchange (PSX) remained bullish for the fourth day in a row, with the benchmark KSE-100 gaining 179.87 points (+ 0.4%) to close at 44,596.07 points on Friday.
The market opened on a negative note; however, this negativity was due to the pre-open trading and then the market remained positive throughout the session. The KSE-100 index traded in a range of 339.22 points, posting an intraday high of 44,646.49 points and a low of 44,307.27 points.
In total, 374 companies traded shares on the stock exchange, including 220 closed shares, 137 closed shares while the shares of 17 companies remained unchanged. Of 95 companies listed in the KSE-100 index, 66 closed, 26 closed and three remained unchanged.
Overall market volumes increased from 74.56 million to 317.65 million shares. Total volumes traded for the KSE-100 index increased by 32.45 million to 153.76 million shares. The total number of transactions increased from 7,863 to 114,922, while the traded value increased from 0.49 billion rupees to 10.83 billion rupees. The overall market capitalization increased by 62.86 billion rupees.
Among scripts, WTL led volumes with 41.97 million shares, followed by CNERGY (39.83 million) and TRG (20.43 million). Inventories that contributed significantly to volumes included WTL, CNERGY, TRG, PRL and KEL, which accounted for approximately 43% of total volumes.
The main sectors that pushed the index north were oil and gas exploration companies with 73 points, commercial banks with 64 points, fertilizers with 50 points, cement with 36 points, and food and health products. personal with 23 points. The highest number of points added to the index was by HBL contributing 31 points followed by FFC with 30 points, POL with 24 points, MCB with 22 points and OGDC with 20 points.
The main sectors pulling the index south were technology and communications with 96 points, investment banks / investment firms / securities firms with 15 points, textile composites with 5 points, coins and auto accessories with 2 points and the auto assembler with a point. The largest number of points removed from the index was by TRG which removed the index from 80 points followed by MEBL with 24 points, SYS with 15 points, DAWH with 10 points and AVN with 6 points.