PSX Closing Bell: Out of the Ashes

The Pakistan Stock Exchange (PSX) reversed its four-day losing streak today as bullish sentiment swept through the market, dominating the session.

Consequently, the benchmark KSE-100 index concluded the trading session at 61,979.18, marking a gain of 137.44 points or 0.22%.

The index remained positive throughout the day, reaching an intraday high of 62,600.12 (+758.38) and a low of 61,896.01 (54.26) points.

Trading volume for the KSE-100 index totaled 153.558 million shares.

As January 2024 draws to a close, it's noteworthy that the benchmark index has declined by 471.86 points (0.76%), signaling a negative start to the year.

Among the 100 index companies, 53 closed higher, 36 closed lower, 4 remained unchanged, while 7 were not traded.

Support for the KSE-100 index came from Commercial Banks with 107.58 points, Fertilizer with 60.34 points, Automobile Assemblers with 15.25 points, Technology & Communication with 11.58 points, and Cable & Electrical Goods with 11.05 points.

On the flip side, the index faced pressure from Chemical with 37.82 points, Engineering with 19.28 points, Leather & Tanneries with 14.51 points, Cement with 11.59 points, and Synthetic & Rayon with 9.08 points.

Companies contributing positively to the index included ENGRO with 34.63 points, BAFL with 32.77 points, UBL with 29.45 points, OGDC with 19.59 points, and BOP with 16.78 points.

Meanwhile, companies exerting downward pressure on the index were COLG with 29.74 points, MARI with 26.22 points, SRVI with 14.51 points, BAHL with 14.26 points, and KOHC with 11.24 points.

In the broader market, the All-Share index concluded at 41,892.68, experiencing a net loss of 16.

To note, the KSE-100 has gained 20,526 points or 49.52% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative decrease of 472 points, equivalent to 0.76%.