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.

MetricValue
Current Value65,603.08
Change-53.54 (-0.08%)
As ofMar 7, 2024 4:15 PM
High65,874.15
Low65,187.68
Volume158,392,882
1-Year Change58.71%
YTD Change1.46%
Previous Close65,656.62
Day Range65,187.68 — 65,874.15
52-Week Range39,482.17 — 67,093.96

 

KSE100_2024-03-07_18-49-32

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.

KSE-100 MARKET SUMMARY. 2024-03-07 at 6.56.33 PM

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.

KSE-100 MARKET SUMMARY 2024-03-07 at 6.56.04 PM

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.

 

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