PSX breaks losing streak, closes with 157-point gain

Pakistan Stock Market closes in green

KARACHI: The Pakistan Stock Exchange’s (PSX) KSE-100 index experienced a boost, rising by 157.80 points or 0.21 per cent, and concluded the trading day at 75,114.47 points, surpassing the 75,000 level.

The total volume of shares traded on the KSE-100 index reached 336.88 million. Notably, the majority of this volume was concentrated in the final hour of trading. The index fluctuated within a range of 558.67 points, achieving an intraday high of 75,284.74 points (+328.07) and a low of 74,726.07 points (-230.6).

PSX closing on May 23, 2024
PSX closing on May 23, 2024

Out of the 100 companies listed on the index, 51 saw their share prices rise, 44 experienced declines, 2 remained unchanged, and 3 were untraded.

The performance of the KSE-100 index was bolstered by contributions from several sectors: Power Generation & Distribution (101.57 points), Oil & Gas Exploration Companies (78.36 points), Oil & Gas Marketing Companies (21 points), Tobacco (15.25 points), and Cement (14.58 points).

Conversely, certain sectors negatively impacted the index, including Commercial Banks (47.03 points), Automobile Assemblers (12.91 points), Automobile Parts & Accessories (10.31 points), Synthetic & Rayon (8.49 points), and Investment Banks/Investment Companies/Securities Companies (6.18 points).

Key contributors to the index’s rise were OGDC (75.97 points), KEL (46.58 points), FFC (27.17 points), PKGP (27.09 points), and HUBC (25.7 points). On the other hand, companies that dragged the index down included MCB (50.82 points), UBL (44.57 points), ENGRO (14.26 points), POL (11.74 points), and THALL (10.31 points).

In the broader market, the All-Share index closed at 48,716.55 points, marking a net gain of 233.82 points. The total market volume increased to 758.94 million shares from the previous session’s 584.48 million, while the traded value decreased by Rs1.1 billion to Rs16.71 billion.

There were 227,775 trades reported across 374 companies, with 191 advancing, 155 declining, and 28 remaining unchanged.

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