The trading day closed with the KSE-100 index slightly down by 53.53 points or 0.08%, settling at 65,603.09. The market displayed volatility, as evidenced by a substantial intraday range of 686.47 points, reaching a high of 65,874.15 and dipping to a low of 65,187.69. KSE-100 is subjected to finding direction as the index is hovering over its resistance area.
The day’s activity was marked by a total volume of 158.393 million shares for the KSE-100 index. A diverse investor participation was noted, with 34 companies in the index closing higher, 57 closing lower, and 3 unchanged. Six companies did not trade during the session.
However, the Pakistani Rupee (PKR) has experienced a welcome upswing in value compared to the US Dollar (USD), reversing its recent downward trend. During the interbank session on Thursday, the PKR increased by about 7 paisa.
| Metric | Value |
|---|---|
| Current Value | 65,603.08 |
| Change | -53.54 (-0.08%) |
| As of | Mar 7, 2024 4:15 PM |
| High | 65,874.15 |
| Low | 65,187.68 |
| Volume | 158,392,882 |
| 1-Year Change | 58.71% |
| YTD Change | 1.46% |
| Previous Close | 65,656.62 |
| Day Range | 65,187.68 — 65,874.15 |
| 52-Week Range | 39,482.17 — 67,093.96 |
SECTORAL IMPACTS ON THE INDEX
The index experienced pressure from several sectors, notably:
- Commercial Banks, which detracted 101.22 points
- Fertilizer, with a 54.23 point drop
- Food & Personal Care Products, decreasing by 18.69 points
- Cement and Technology & Communication, contributing to the decline with 9.06 and 7.60 points respectively.
Conversely, certain sectors provided support, helping mitigate broader market losses:
- Oil & Gas Exploration Companies added 94.53 points
- Cable & Electrical Goods contributed 21.18 points
- Investment Banks/Companies and Securities Companies with a 16.62 point increase
- Power Generation & Distribution and Oil & Gas Marketing Companies added 14.16 and 7.81 points, respectively.
INFLUENTIAL COMPANIES
Key contributors to the index’s performance included:
PSX STOCK:
- OGDC, PAEL, HUBC, PPL, and DAWH, which together added significant points to the index.
On the downside:
- BAHL, MCB, ENGRO, MEBL, and NESTLE were the top companies that pulled the index lower.
BROADER MARKET PERSPECTIVE
The All-Share index witnessed a slight uptick, closing at 43,469.50 with a net gain of 15.31 points. Total market volume stood at 354.153 million shares, showing a decrease from the previous session. The day’s trading value was reported at Rs14.44 billion, marking a decrease from the previous session’s transactions.
TOP TRADED COMPANIES
The most active stocks included PAEL, TELE, PIAA, WTL, and CNERGY, highlighting investor interest in a variety of sectors.
YEARLY GAINS AND MARKET OUTLOOK
The fiscal year has seen the KSE-100 index gain a notable 24,150 points or 58.26%, with the ongoing calendar year contributing an increase of 3,152 points, or 5.05%, showcasing sustained market growth.
MARKETS
Moreover, Gold (XAU/USD) is continuing its incredible ride, rising for the seventh straight trading day on Thursday. The brilliant metal surged to new all-time highs of $2,164.77, driven by a number of positive circumstances.
