The benchmark KSE-100 index concluded Wednesday’s trading session at 65,731.79, marking a notable increase of 229.20 points or 0.35%. The index maintained a positive trajectory throughout the day, reaching an intraday high of 65,968.03 and a low of 65,614.94 points. Total trading volume for the KSE-100 index stood at 170.678 million shares.

PSX Closing Summary
Index65,731.79
Change229.20 (0.35%)
As ofMar 20, 2024 2:15 PM
High65,968.02
Low65,614.94
Volume170,678,391
1-Year Change60.64%
YTD Change1.65%
Previous Close65,502.59
Day Range65,614.94 — 65,968.02
52-Week Range39,482.17 — 67,093.96

IMF AGREEMENT BOOSTS MARKET CONFIDENCE

In a significant development, the International Monetary Fund (IMF) and Pakistani authorities reached a staff-level agreement on the second and final review under Pakistan’s Stand-By Arrangement. Pending approval from the IMF’s Executive Board, Pakistan is set to gain access to SDR 828 million, equivalent to approximately $1.1 billion. Following this news, Pakistan dollar bonds maturing in 2025 surged to a two-year high of 92.5 cents on the dollar.

MARKET PERFORMANCE AND SECTORAL TRENDS

Advancers and decliners were evenly distributed in today’s trading session, with 50 companies closing up, 43 closing down, 3 remaining unchanged, and 4 remaining untraded. The KSE-100 index received support from sectors such as Investment Banks, Investment Companies, and Securities Companies, Fertilizers, Commercial Banks, Paper & Board, and Technology & Communication. Conversely, sectors including Cement, Oil & Gas Exploration Companies, Food & Personal Care Products, Oil & Gas Marketing Companies, and Refinery weighed down the index.

COMPANY MOVEMENTS

Companies contributing positively to the index included DAWH, FFC, NBP, MEBL, and PKGS, while those exerting downward pressure included PPL, BAHL, OGDC, UBL, and DGKC.

BROAD MARKET PERFORMANCE

The All-Share index closed at 43,694.59 with a net gain of 165.71 points. Total market volume reached 341.844 million shares, with traded value recorded at Rs11.84 billion. Notably, the top ten companies by volume included BOP, WTL, TOMCL, KEL, KOSM, TELE, HASCOL, UNITY, NBP, and CNERGY.

YEARLY PERFORMANCE

The KSE-100 index has exhibited robust growth, gaining 24,279 points or 58.57% during the fiscal year. In the ongoing calendar year, the index has seen a cumulative increase of 3,281 points, equivalent to 5.25%. These figures underscore the resilience and momentum of the Pakistani stock market amidst evolving economic dynamics.

MARKET NOISE 

In Wednesday’s interbank trading, the value of the Pakistani rupee (PKR) significantly increased in relation to the US dollar, closing at PKR 278.41 per USD.

Gold prices surge in Pakistan, with 24 karat reaching Rs.227,800 per tola. Investors await Fed’s monetary policy decision amidst inflation concerns. Stay informed on market trends for smart investment decisions.

 

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