PSX bounces back following steep decline


Pakistan Stock Exchange

KARACHI: In today’s trading session, Pakistan Stock Exchange’s benchmark KSE-100 index embarked on a negative trajectory at the opening bell, mirroring the previous day’s downturn as it revisited the lows of approximately 64,400.

However, resilient buyers promptly intervened, successfully safeguarding this level once more.

The index maintained a confined range for the remainder of the session, ultimately concluding at 65,450.19, marking an increase of 170 points or 0.26 per cent day-on-day.

Pakistan Stock Exchange bounces back after crashing
Pakistan Stock Exchange – December 14 (closing)

Notably, this development follows the index’s most significant daily decline in nearly 3.5 months, as witnessed yesterday.

Throughout the day’s proceedings, the index experienced a fluctuation spanning 1,184.86 points, with an intraday high of 65,622.56 (+342.40) and a low of 64,437.70 (-842.46) points.

The total volume of the KSE-100 index amounted to 407.56 million shares, reflecting the dynamic nature of today’s trading activity.

Among the constituent companies of the 100 index, 38 concluded with gains, 41 with losses, 1 remained unchanged, and 20 remained untraded.

Noteworthy support for the KSE-100 index was provided by oil and gas exploration companies, contributing 169.1 points; fertiliser with 117.72 points; cable and electrical goods with 22.07 points; technology and communication with 16.85 points; and refinery with 16.42 points.

Read more: Interbank closing: Pakistani rupee gains against US dollar

Conversely, the index faced downward pressure from commercial banks, subtracting 77.58 points, power generation and distribution with 22.4 points, food and personal care products with 21.49 points, investment banks, investment companies, and securities companies with 20.99 points, and textile composites with 17.05 points.

Key contributors to the index’s positive movement included PPL with 114.05 points, FFC with 53.27 points, OGDC with 48.72 points, BOP with 28.49 points, and MCB with 26.92 points.

On the flip side, companies that exerted downward pressure included MEBL with 53.51 points, UBL with 32.53 points, HUBC with 26.26 points, NBP with 24.4 points, and DAWH with 20.85 points.

It is noteworthy that the KSE-100 has exhibited remarkable performance, gaining 23,997 points, or 57.89 per cent, during the fiscal year.

 

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