PSX Final Ring: The Wild Horses

The general election date announcement gave investors more confidence, which led to a strong trend in the stock market on Thursday. The benchmark KSE-100 index closed at 46,202.13 points, up 312.55 points, or 0.68%.

After failing to break through the 46,000 barrier in the preceding sessions, the benchmark did so at last.

The general elections will take place in the final week of January 2024, according to a statement released today by the Election Commission of Pakistan (ECP). This will put an end to the political unpredictability that has undermined investor confidence for several months.

The index had an intraday high of 46,309.8 (+420.22) points and a low of 45,733.44 (-156.14) points, trading in a range of 576.36 points.

The KSE100 Index saw 74.187 million shares traded overall.

Of the 100 index companies, 22 closed lower, 6 were unchanged, 68 closed higher, and 4 did not trade.

Commercial Banks (106.55), Cement (92.79), Oil & Gas Exploration Companies (34.46), Fertilizer (34.23), and Textile Composite (12.02 points) all contributed to the KSE100 index.

LUCK with 44.85, UBL with 37.17, MCB with 32.68, FFC with 22.21, and MLCF with 17.7 points were the companies that added points to the index.

Car Assemblers (20.33), Chemicals (7.8), Automobile Parts & Accessories (7.05), Investment Banks / Investment Companies / Securities Companies (4.65), and Leather & Tanneries (0.69 points) were the KSE100 Index's worst sectors.

MTL with 21.82, COLG with 12.57, UPFL with 10.21, THALL with 7.05, and DAWH with 5.35 points were the companies that pulled the index lower.

The All-Share index closed at 30,853.26 in the overall market, indicating a net gain of 175.14 points.

The total number of shares traded was 172.159 million, up from 129.372 in the previous session. The traded value was recorded at 5.35 billion, indicating a rise of Rs1.71 billion.

A total of 323 entities reported 89,122 trades, of which 194 ended in a profit, 99 in a loss, and 30 remained unchanged.