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Pakistan Stock Exchange closes with 0.29% gain at 51,177 points
- Web Desk
- Oct 25, 2023
WEB DESK: In Wednesday’s trading session, Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed at 51,177.13, marking a 0.29 per cent increase or 149.19 points.
Bulls dominated the session, although investor caution prevailed due to the upcoming central bank’s policy rate decision and October’s inflation data scheduled for the following week.
Pakistan Stock Exchange – Key Statistics pic.twitter.com/2LdtPeZvXC
— Topline Securities (@toplinesec) October 25, 2023
Market participants remained vigilant about the International Monetary Fund’s (IMF) standby arrangement (SBA) review. A successful outcome could unlock a $700 million installment.
Throughout the day, the index fluctuated within a range of 460.53 points, reaching an intraday high of 51,483.85 (up by 455.91 points) and a low of 51,023.31 (down by 4.63 points). The total volume of the KSE-100 Index amounted to 215.696 million shares.
Among the 100 index companies, 47 experienced gains, 38 faced losses, 3 remained stable, and 12 were not traded.
The index was bolstered by commercial banks (92.01 points), technology and communication (88.78 points), cement (66.41 points), oil and gas marketing companies (43.84 points), and chemicals (15.11 points).
Significant contributors to the index included SYS (90.78 points), BAHL (87.89 points), PSO (44.41 points), FCCL (23.81 points), and DGKC (15.16 points).
However, fertiliser (147.89 points), oil and gas exploration companies (40.15 points), automobile parts and accessories (9.47 points), property (7.56 points), and food and personal care products (4.3 points) exerted downward pressure on the KSE-100 index.
Read more: Global oil prices extend decline for fourth consecutive day
Notably, FFC’s announcement of a dividend of Rs3.98 per share, below industry expectations despite strong earnings, led to a significant drop in the index.
In the broader market, the All-Share index concluded at 34,005.83, gaining 134.83 points. The total market volume reached 427.394 million shares, up from the previous session’s 321.404 million, with a traded value of Rs15.51 billion, reflecting an increase of Rs4.42 billion.
A total of 175,587 trades were reported across 349 companies, with 174 closing higher, 159 experiencing losses, and 16 remaining unchanged.
It’s worth noting that the KSE-100 has recorded a remarkable growth of 9,724 points, or 23.46 per cent, during the fiscal year.
Additionally, the ongoing calendar year has witnessed a cumulative increase of 10,757 points, equivalent to 26.61 per cent in the KSE-100 Index.