Achi news desk-
KARACHI: The Pakistan Stock Exchange (PSX) turned positive on Thursday and retook the 75,000-point level, with the benchmark KSE-100 up 157.80 points (+0.21 percent) to close at 75,114.47 points.
The market opened on a slightly positive note but remained volatile amid cautious trading and the indexes fluctuated in both directions during trading before closing in the green. After hitting highs in recent weeks, the market has seen a cautious performance as investors look for new positive triggers ahead of the monetary policy meeting and the budget announcement. The reference index jumped 82.76 percent in the past year and 16.17 percent during the current year. The KSE-100 closed below 75,000 earlier in the session as the benchmark pared late gains, losing over 250 points.
“Positive sentiments were brewed on the PSX. The indices fluctuated in both directions until finally closing in the green. Volume was up compared to the previous day,” brokerage Capital Stake said in its after-market report. Sectors that propelled the KSE 100 forward included power generation and distribution, Oil and gas exploration and oil and gas marketing, the brokerage house said.
The reference index traded in a range of 558.68 points and showed an intraday high of 75,284.74 points and a low of 74,726.06 points.
The total volume of the KSE-100 index remains 336.88 million shares. Interestingly, most of the volume was observed in the last hour of trading, when the index set at 75,114.47.
Of the KSE-100 index companies, 51 closed, 44 closed, two remained unchanged, while three remained untraded. The KSE-100 index is supported by production and distribution (98 points), oil and gas exploration companies (81 points), oil and gas marketing companies (21 points), tobacco (16 points), cement (15 points), food and care products (14 points) ), insurance (11 points), fertilizer (8 points) and technology and communication (6 points).
On the opposite side, the index was disappointed by commercial banks (44 points), auto components (13 points), spare parts and auto accessories (10 points), synthetic and cryon (8 points), and investment banks/investment companies/securities companies (6 points) .
The companies that added points to the index were OGDC (78 companies), KEL (40 companies), PKGP (29 points), FFC (27 points), HUBC (26 points), SCPBL (18 points), PAKT (16 points), SEARL (14 points), BAHL (13 points) and PSO (12 points).
On the other hand, the companies that pulled the index down were MCB (50 points), UBL (44 points), ENGRO (14 points), POL (12 points), THALL and LUCK (10 points each), MEBL (9 points). ), IBFL (8 points), and MTL and DAWH (7 points each).
In the broad market, the All-Share index closed at 48,716.55 with a net increase of 233.82 points. The total market volume stood at 758.94 million shares compared to 584.48 million in the previous session, while the traded value was recorded at 16.71 billion rupees showing a decrease of 1.1 billion rupees. 227,775 transactions were reported in 374 companies with 191 closing, 155 closing and 28 remaining unchanged. – TLTP
