Bulls dominated today’s trading session at the Pakistan Stock Exchange, driving the benchmark KSE-100 index to close 409.91 points (0.52%) higher at 79,397.
The index traded in a range of 632.88 points showing an intraday high of 79,704.36 (+717.27) and a low of 79,071.48 (+84.39) points. The total volume of the KSE-100 Index was 102.94 million shares.
KSE-100 INDEX PERFORMANCE
Of the 100 index companies, 57 closed up, 39 closed down, 3 were unchanged, while 1 remained untraded. Top gainers during the day were TRG (+10%), FABL (+9.04%), HGFA (+5.27%), NBP (+2.99%), and LCI (+2.82%). On the other hand, top losers were NCPL (-2.99%), PAKT (-2.77%), SHFA (-2.74%), CEPB (-2.13%), and SRVI (-2.06%).
SECTOR-WISE CONTRIBUTION TO KSE-100 INDEX
The KSE-100 index was supported by Commercial Banks (+222.06 pts), Fertilizer (+151.71 pts), Technology & Communication (+55.13 pts), Pharmaceuticals (+21.88 pts), and Oil & Gas Marketing Companies (+18.06 pts).
On the flip side, the index was let down by Power Generation & Distribution (-69.39 pts), Investment Banks / Investment Companies / Securities Companies (-22.45 pts), Leather & Tanneries (-13.32 pts), Tobacco (-10.59 pts), and Automobile Assembler (-6.28 pts).
INDIVIDUAL STOCK PERFORMANCE
Companies that added points to the index were FFC (+77.96 pts), MEBL (+72.85 pts), TRG (+65.85 pts), FABL (+51.16 pts), and EFERT (+50.02 pts). Conversely, companies that dragged the index lower were HUBC (-52.96 pts), UBL (-31.46 pts), DAWH (-25.80 pts), SRVI (-13.32 pts), and PAKT (-10.59 pts).
BROADER MARKET PERFORMANCE
In the broader market, the All-Share index closed at 50,359.13 with a net gain of 223.55 points or 0.45%. Total market volume was 386.98 million shares compared to 316.25 million from the previous session while traded value was recorded at Rs14.90 billion showing a decrease of Rs2.18 billion.
There were 218,891 trades reported in 429 companies with 228 closing up, 154 closing down, and 47 remaining unchanged.
TOP TEN BY VOLUME
| Symbol | Price | Change % | Volume |
|---|---|---|---|
| SILK | 1.1 | 10.00% | 36,867,747 |
| HASCOL | 6.69 | 10.03% | 25,777,994 |
| PIAHCLA | 16.31 | 4.35% | 17,163,702 |
| ASC | 7.15 | -3.25% | 14,690,476 |
| DFML | 44.3 | 10.01% | 14,560,291 |
| AGL | 24.25 | 5.66% | 13,133,232 |
| WTL | 1.18 | 0.86% | 12,187,117 |
| TPLP | 8.37 | 4.36% | 10,362,350 |
| FFL | 8.86 | 3.75% | 10,226,648 |
| FFBL | 42.27 | 0.17% | 8,639,391 |
KSE-100 INDEX YEAR-TO-DATE PERFORMANCE
To note, the KSE-100 has gained 952 points or 1.21% during the fiscal year, whereas the ongoing calendar year has witnessed a cumulative increase of 16,946 points, equivalent to 27.13%.
PAKISTAN ECONOMIC NEWS
GOLD PRICE IN PAKISTAN INCREASES, HITS RS252,800 PER TOLA
Gold price in Pakistan increased on Wednesday, with 24-karat gold being sold at Rs252,800 per tola, up Rs2,300.
Gold (XAU/USD) recovers for a second day in a row, trading back up in the $2,410s as “stagflation” fears mount. The term, which describes above-trend inflation coupled with weak growth and jobs data, is a portmanteau of “stagnant” and “inflation.” Economists are applying it to the current environment following the release of the Philadelphia non-manufacturing Business Outlook Survey, which combined a weak headline and a high prices paid component. At the same time, US Existing Home Sales fell 5.4% month-over-month in June – further evidence of a slowdown – according to analysts at Rabobank.
PAKISTANI RUPEE DEPRECIATES AGAINST US DOLLAR
The Pakistani rupee (PKR) depreciated by 9.28 paisa against the US dollar in Wednesday’s interbank session as the currency settled the trade at PKR 278.5 per USD, compared to the previous session’s closing of PKR 278.41 per USD
