The KSE-100 index recorded a significant gain of 594.34 points, marking a positive change of 0.89 percent. It closed at a historic level of 67,142.12 points, surpassing the previous day’s closing of 66,547.79 points. This bullish momentum underscores the confidence and optimism prevailing in the Pakistani stock market.

PSX CLOSING SUMMARY

ParameterValue
Closing Price67,142.12
Change594.34 (0.89%)
Date & TimeAs of Mar 28, 2024 2:14 PM
High67,246.02
Low66,690.94
Volume231,313,539
1-Year Change67.51%
Year-to-Date Change3.84%
Previous Close66,547.78
Day Range66,690.94 — 67,246.02
52-Week Range39,482.17 — 67,246.03

PKR INTERBANK RATES – THURSDAY, 28 MARCH 2024

SBP’S RESERVES INCREASED BY $4 MILLION OR 0.05% WOW

TRADING ACTIVITY

SUPPORT AND DRAG ON KSE-100 INDEX:

Support:

  • Commercial Banks: 184.39 points
  • Fertilizer: 89.9 points
  • Cement: 85.95 points
  • Oil & Gas Exploration Companies: 49.32 points
  • Oil & Gas Marketing Companies: 27.36 points

Drag:

  • Leather & Tanneries: -6.69 points
  • Transport: -2.26 points
  • Real Estate Investment Trust: -0.69 points
  • Miscellaneous: -0.35 points
  • Modarabas: -0.31 points

COMPANIES CONTRIBUTING TO INDEX MOVEMENT:

Adding Points:

  • BAHL: 61.62 points
  • ENGRO: 54.49 points
  • MCB: 37.71 points
  • PPL: 28.8 points
  • LUCK: 25.62 points

Dragging Points:

  • SYS: -17.47 points
  • ABL: -7.08 points
  • SRVI: -6.69 points
  • UPFL: -5.8 points
  • PKGP: -4.56 points

ALL-SHARE INDEX AND MARKET ACTIVITY:

  • All-Share Index: 44,470.33 (a net gain of 395.21 points)
  • Total Market Volume: 421.118 million shares
  • Traded Value: Rs16.16 billion (an increase of Rs4.27 billion)
  • Number of Trades: 169,911
  • Companies: 350
    • Companies Closing Up: 211
    • Companies Closing Down: 110
    • Unchanged Companies: 29

KSE100_2024-03-28_15-08-32

TOP TRADING COMPANIES

The top trading companies of the day included:

  • PTCL (Pakistan Telecommunication Company Limited) with 55,715,919 shares traded at Rs. 18.42 per share.
  • Lotte Chemical with 27,228,578 shares traded at Rs. 19.56 per share.
  • Telecard Limited with 25,547,322 shares traded at Rs. 9.29 per share.

TOP ACTIVE STOCKS

SymbolPercentage Change
PTC6.41%
LOTCHEM0.15%
TELE0.54%
WTL-0.77%
TPLP9.39%
FFCXD-0.10%
KEL-0.22%
TOMCL-5.31%
AIRLINK3.10%
HASCOLDEF0.76%

MARKET NOISE

Gold prices in Pakistan rose significantly, with 24 karat gold per tola increasing by Rs. 1,500 to Rs. 231,000 and 10 grams by Rs. 1,285 to Rs. 198,045. However, the gold price (XAU/USD) struggled below $2,200, showing limited momentum amidst various factors. Technical analysis suggests potential bullish breakout, while 22 karat gold prices also surged domestically. Silver prices remained steady. Internationally, gold prices rose by $14 to $2,214.

FTSE Russell has decided to keep Pakistan on the watch list for potential demotion from secondary emerging market to frontier market status due to its declining index weight. This reflects ongoing concerns over Pakistan’s market performance and underscores the need for addressing underlying issues to restore investor confidence. Demotion could bring higher risk and volatility.

In the interbank session, the PKR settled the trade at PKR 278.03 per USD, marking a marginal appreciation from the previous session’s closing of PKR 278.04 per USD.

The SBP’s reserves increased by $4 million or 0.05% WoW to reach $8.02 billion by the week ending March 22, 2024.

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