PSX Market Recap: Assessing the Numbers

Following a session marked by a narrow trading range on Thursday, the Pakistan Stock Exchange (PSX) concluded the day with a minimal change, closing at 64,639.16. The index showed a slight decline of 7.69 points, equivalent to 0.01%.

In the previous session, the PSX's benchmark index had witnessed a gain of 297 points, contributing to a total increase of almost 2,200 points or 3.5% since the commencement of the new year.

Despite concerns related to persistent inflation, market sentiments continue to be optimistic, fueled by attractive valuations and expectations of a robust earnings season ahead.

During today's trading session, the KSE-100 index fluctuated within a range of 838.65 points, reaching an intraday high of 64,936.76 (+289.91) and a low of 64,098.11 (-548.74) points.

Advancers and decliners were evenly distributed, with 43 companies closing higher and 48 closing lower. Additionally, 6 companies remained unchanged, and 3 were untraded.

Key Contributors and Detractors:

Commercial Banks, Oil & Gas Exploration Companies, Technology & Communication, Cement, and Engineering were the sectors weighing down the KSE-100 index with 51.41, 37.4, 27.91, 27.32, and 18.86 points, respectively.

Conversely, support for the index came from the Fertilizer sector with 74.29 points, followed by Power Generation & Distribution with 51.14 points, Refinery with 25.59 points, Leather & Tanneries with 20.61 points, and Miscellaneous with 9.5 points.

Companies contributing to the decline in the index included OGDC with 34.9, SYS with 28.26, PPL with 27.6, LUCK with 24.17, and HBL with 21.22 points.

On the positive side, companies adding points to the index included HUBC with 37.84, ENGRO with 28.37, EFERT with 28.3, FFC with 22.33, and SRVI with 20.61 points.

Broader Market Trends:

In the broader market, the All-Share index closed at 43,308.85, marking a net gain of 9.18 points.

Total market volume reached 548.990 million shares, a decrease from the previous session's 671.665 million shares, and the traded value recorded was Rs15.40 billion, showing a decline of Rs9.05 billion.

The day witnessed 196,656 trades involving 359 companies, with 155 closing higher, 183 closing lower, and 21 remaining unchanged.

Notably, the KSE-100 has seen a remarkable gain of 23,186 points or 55.93% during the fiscal year, while the ongoing calendar year has witnessed a cumulative increase of 2,188 points, equivalent to 3.5%.