The Pakistan Stock Exchange (PSX) witnessed a slight downturn in its benchmark KSE-100 index during Thursday’s trading session, closing at 65,417.40 with a marginal decrease of 314.39 points or 0.48%. Here’s a breakdown of the day’s trading activity and notable market movements:
PSX CLOSING SUMMARY
| Statistic | Value |
|---|---|
| Title | PSX Closing Summary |
| Closing Price | 65,417.40 |
| Change | -314.39 (-0.48%) |
| As of | Mar 21, 2024 2:15 PM |
| High | 66,196.23 |
| Low | 65,326.01 |
| Volume | 242,671,674 |
| 1-Year Change | 60.03% |
| YTD Change | 1.17% |
| Previous Close | 65,731.79 |
| Day Range | 65,326.01 — 66,196.23 |
| 52-Week Range | 39,482.17 — 67,093.96 |
INTRADAY MOVEMENTS
The KSE-100 index fluctuated within a range of 870.23 points throughout the trading day. It reached an intraday high of 66,196.24 points, showing an increase of 464.45 points, and a low of 65,326.01 points, reflecting a decrease of 405.78 points.
TRADING VOLUME AND COMPANY PERFORMANCE
The total volume of the KSE-100 index stood at 242.672 million shares. Among the 100 index companies, 33 closed higher, 62 closed lower, 3 remained unchanged, while 2 remained untraded.
SECTORAL PERFORMANCE
The index experienced downward pressure primarily from sectors such as Cement, Oil & Gas Exploration Companies, Technology & Communication, Oil & Gas Marketing Companies, and Miscellaneous.
Conversely, sectors like Commercial Banks, Fertilizer, Inv. Banks / Inv. Cos. / Securities Cos., Automobile Parts & Accessories, and Sugar & Allied Industries contributed positively to the index.
NOTABLE MARKET MOVEMENTS
Top-performing companies that contributed to the index’s gains included National Bank of Pakistan (NBP), Fauji Fertilizer Company (FFC), MCB Bank (MCB), Meezan Bank (MEBL), and Dawood Hercules Corporation (DAWH).
On the other hand, companies such as Pakistan Petroleum Limited (PPL), Systems Limited (SYS), Oil & Gas Development Company (OGDC), Lucky Cement Limited (LUCK), and Pakistan Oilfields Limited (PIOC) exerted downward pressure on the index.
SUPREME COURT RULING AND IMPACT ON NBP
The Supreme Court of Pakistan’s dismissal of the NBP’s Review Petition in the Pension Case had implications for the company’s operations. NBP announced that it would disburse pensions totaling Rs60 billion to 11,500 retired employees.
BROAD MARKET PERFORMANCE
In the broader market, the All-Share index concluded at 43,499.92, marking a net loss of 194.67 points. Total market volume reached 389.655 million shares, with a traded value recorded at Rs11.31 billion.
TOP TEN VOLUMES
The top ten companies by volume included PTC, PIBTL, Bank of Punjab (BOP), Worldcall Telecom Limited (WTL), Ghani Automobile Industries Limited (GATM), Cnergyico Limited (CNERGY), Hascol Petroleum Limited (HASCOL), K-Electric Limited (KEL), Pakistan Refinery Limited (PRL), and K-Electric Limited (KOSM).
YEAR-TO-DATE PERFORMANCE
During the fiscal year, the KSE-100 index observed a significant gain of 23,965 points or 57.81%. In the ongoing calendar year, the index saw a cumulative increase of 2,966 points, equivalent to 4.75%.
MARKET NOISE
PKR shows resilience against USD, settling at 278.4 in Thursday’s interbank session. Eurozone sees PKR at 304.19, GBP at 355.89. Market analysis indicates PKR appreciation against USD this year. SBP keeps policy rate unchanged at 22%. Stay informed with PKR exchange rates
Gold prices (XAU/USD) retreat after hitting fresh highs near $2,200, now hovering just above. In Pakistan, 24-karat gold surged to Rs232,400 per tola. Market sentiment remains positive, influenced by various factors including risk-on sentiment and US Treasury bond yields. Traders eye upcoming economic data for short-term opportunities. Technical analysis suggests potential consolidation before further uptrend. Gold currently trades at $2204.89.
