PSX Market Recap: An Insight into Recent Developments
Trading activity saw the KSE-100 index witnessing a total volume of 170.678 million shares.
Karobar
The benchmark KSE-100 index wrapped up Wednesday's trading session at 65,731.79, marking a rise of 229.20 points or 0.35% from the previous close.
Throughout the day, the index maintained a positive trajectory, hitting an intraday high of 65,968.03 (+465.43) and a low of 65,614.94 (+112.35) points.
In a significant development, the International Monetary Fund (IMF) and Pakistani authorities announced a staff-level agreement on the final review under Pakistan’s Stand-By Arrangement. This agreement, subject to the IMF Executive Board's approval, will grant Pakistan access to SDR 828 million, approximately $1.1 billion.
Following this announcement, Pakistan's dollar bonds surged to a two-year high, reaching 92.5 cents on the dollar.
During today's trading session, advancers and decliners were evenly balanced, with 50 companies closing higher and 43 lower. Three stocks remained unchanged, while four were untraded.
Contributing to the positive performance of the KSE-100 index were sectors like Investment Banks/Companies/Securities, Fertilizers, Commercial Banks, Paper & Board, and Technology & Communication.
Conversely, sectors such as Cement, Oil & Gas Exploration Companies, Food & Personal Care Products, Oil & Gas Marketing Companies, and Refinery weighed down on the index.
Companies that notably boosted the index included DAWH, FFC, NBP, MEBL, and PKGS, while those that exerted downward pressure included PPL, BAHL, OGDC, UBL, and DGKC.
In the broader market, the All-Share index concluded at 43,694.59, registering a net gain of 165.71 points.
Total market volume stood at 341.844 million shares, compared to 323.282 million shares in the previous session. The traded value recorded a decrease, totaling Rs11.84 billion, down from Rs5.22 billion.
Trading activity encompassed 138,109 transactions across 341 companies, with 172 closing higher, 146 lower, and 23 unchanged.
Noteworthy is the KSE-100's robust performance, having gained 24,279 points or 58.57% over the fiscal year. Additionally, the ongoing calendar year has witnessed a cumulative increase of 3,281 points, equivalent to 5.25%.
