Bulls maintained their momentum at the Pakistan Stock Exchange (PSX) on Wednesday, pushing the benchmark KSE-100 index above the 80,000 level. The KSE-100 Index closed at an all-time high of 80,233.67, up 680.79 points or 0.86% from the previous session.

  • Intraday Range:
    The index traded in a range of 707.98 points, showing an intraday high of 80,405.23 (+852.35) and a low of 79,697.25 (+144.37) points.
  • Total Volume:
    The total volume of the KSE-100 Index was 280.09 million shares.
  • Market Breadth:
    Of the 100 index companies, 65 closed up, 31 closed down, while 4 remained unchanged.

IMF BAILOUT EXPECTATIONS

Pakistan is looking to clinch a staff-level agreement on an International Monetary Fund (IMF) bailout of more than $6 billion this month after addressing all of the lender’s requirements in its annual budget, Reuters reported, citing Pakistan’s junior finance minister.

SECTOR PERFORMANCE

The KSE-100 index was supported by the following sectors:

  • Commercial Banks: +274.44 points
  • Oil & Gas Exploration Companies: +161.35 points
  • Power Generation & Distribution: +87.90 points
  • Cement: +87.45 points
  • Oil & Gas Marketing Companies: +68.34 points

Conversely, the index was dragged down by:

You might also like

  • Fertilizer: -102.98 points
  • Tobacco: -32.38 points
  • Engineering: -29.42 points
  • Automobile Assembler: -12.75 points
  • Automobile Parts & Accessories: -6.91 points

TOP CONTRIBUTORS

Companies that added the most points to the index:

  • HBL: +121.23 points
  • POL: +88.86 points
  • HUBC: +85.79 points
  • NBP: +46.85 points
  • SYS: +46.23 points

Companies that dragged the index lower:

  • FFC: -56.14 points
  • EFERT: -41.89 points
  • PAKT: -32.38 points
  • FABL: -17.03 points
  • INIL: -14.87 points

BROAD MARKET PERFORMANCE

In the broader market, the All-Share index closed at 50,771.44 with a net gain of 364.20 points or 0.72%.

  • Total Market Volume:
    536.58 million shares compared to 413.15 million from the previous session.
  • Traded Value:
    Rs22.72 billion, showing an increase of Rs6.13 billion.
  • Market Breadth:
    There were 257,208 trades reported in 447 companies, with 256 closing up, 135 closing down, and 56 remaining unchanged.

PRIVATIZATION OF PIA

In a recent development, the Privatization Commission (PC) has set the deadline for the privatization process of Pakistan International Airlines (PSX: PIAHCLA) for August 2024. Its shares have jumped 29.5% in the past three trading sessions.

TOP TEN BY VOLUME

  1. PAEL: 34,586,757 shares
  2. BOP: 31,468,760 shares
  3. NBP: 21,224,492 shares
  4. AKDSL: 15,086,401 shares
  5. KEL: 13,995,944 shares
  6. WTL: 13,490,029 shares
  7. FFBL: 13,222,352 shares
  8. AKBL: 13,043,489 shares
  9. UNITY: 12,900,547 shares
  10. HUMNL: 12,601,867 shares

HOW TO INVEST IN PAKISTAN STOCK MARKET

ALI

ALI

Experienced Senior Research Analyst

SIKANDER RAZA

SIKANDER RAZA

Sikander Raza, a Senior Technical Analyst

HAMZA SALEEM

HAMZA SALEEM

Hamza Saleem, a Senior Business Analyst

IRSA

IRSA

Irsa Sajjad, as a Research Analyst for Equities

Leave a Reply

Your email address will not be published. Required fields are marked *

TRENDING

test

You might also like KSE-100 SOARS 3,225 POINTS AMID POLICY RATE SPECULATION, PKR STABLE, GOLD

Read More »
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?