KARACHI
\nThe Pakistan Stock Exchange (PSX) turned around in a low-volume session on Friday, with the benchmark KSE-100 Index gaining 192.31 points (+0.43 percent) to close at 45,018.28 points.
\nThe market opened on a negative note but this negative mood sustained less than a minute and the market turned around and remained in the green zone throughout the session.
\nAccording to experts, the market performed positively on expectations that State Bank of Pakistan will hold the policy rate at 9.75 percent in its upcoming Monetary Policy Committee meeting on January 24 (Monday). Moreover, a fall in crude oil prices for the second day in a row as well as revised gross domestic product growth rate for the last fiscal year 2020-21 also improved the market sentiment.
\nThe KSE-100 Index moved in a range of 393.45 points, showing an intraday low of 44,755.74 points and a high of 45,149.19 points. Among other indices, the KSE All Share Index gained 128.59 points (+0.42 percent) to close at 30,878.62 points, while KMI All Share Islamic Index gained 46.47 points (+0.21 percent) to close at 22,211.76 points.
\nA total of 357 companies traded shares in the stock exchange, out of them shares of 208 closed up, shares of 126 closed down while shares of 23 companies remained unchanged.
\n Out of 96 traded companies in the KSE-100 Index, 62 closed up, 30 closed down and four remained unchanged.
\nThe overall market volumes decreased by 78.08 million to 176.13 million shares. Total volumes traded for the KSE-100 Index decreased by 20.79 million to 89.87 million shares. The number of total trades decreased by 10,002 to 98,955, while the value traded decreased by Rs0.67 billion to Rs7.07 billion. Overall, market capitalisation increased by Rs32.2 billion.
\nAmong scrips, TRG topped the volumes with 19.18 million shares, followed by JSCL (13.76 million) and WTL (12.57 million). Stocks that contributed significantly to the volumes included TRG, JSCL, WTL, CNERGY, and GGL, which formed over 33 percent of total volumes.
\nIn terms of rupee, NESTLE remained the top gainer and witnessed an increase of Rs50 per share, closing at Rs5,450 whereas the runner-up was MEHT, the share price of which climbed up by Rs43.51 to Rs677.8. SCL remained the top loser in terms of rupee and witnessed a decrease of R22.5 per share, closing at Rs282.5, followed by ICI, the share price of which declined by Rs12.91 to close at Rs748.09 per share.
\nThe sectors taking the index towards north were technology & communication with 66 points, commercial banks (53 points), oil & gas exploration companies (16 points), textile composite (12 points) and power generation & distribution (11 points). The most points added to the index were by TRG (41 points), followed by MARI (26 points), BAHL (23 points), SYS (19 points) and ABL (16 points).
\nThe sectors taking the index towards south were close\u2013end mutual funds with 3 points, refinery (3 points), miscellaneous and automobile parts & accessories (2 points each) and glass & ceramics (one point). The most points taken off the index were by MEBL (13 points), followed by OGDC (8 points), EFERT (7 points), INIL (5 points) and ICI (4 points).<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI The Pakistan Stock Exchange (PSX) turned around in a low-volume session on Friday, with the benchmark KSE-100 Index gaining 192.31 points (+0.43 percent) to close at 45,018.28 points. The market opened on a negative note but this negative mood sustained less than a minute and the market turned around and remained in the green […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-240021","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n