KARACHI
\nPakistan Stock Exchange (PSX) inched up during a volatile session on Wednesday, with the benchmark KSE-100 Index gaining 14.13 points (0.02 percent) to close at 56,680.06 points, the highest ever close witnessed in its history.
\nThe market opened on a positive note but turned to profit-taking soon after hitting the day\u2019s high within the first few minutes of trading. Later, the session remained volatile.
\nInvestors were disappointed by the outcome of the imminent review by global index provider Morgan Stanley Capital International (MSCI). There was speculation regarding a potential increase in Pakistan\u2019s weight in the global index. However, the MSCI semi-annual index review did not bring any positive changes for Pakistan and instead its weight in the FM100 index dropped from 3.2 percent to about 2.9 percent.
\nHowever, the market is watching the ongoing discussions between the government and the International Monetary Fund (IMF). Regarding fiscal matters, the IMF and Federal Board of Revenue deliberated on implementing structural adjustments in tax collection, including the introduction of taxes on agriculture, real estate, and retail sectors.
\nThe benchmark index traded in a range of 413.63 points, showing an intraday high of 56,846.67 points and an intraday low of 56,433.04 points. Among other indices, the KSE All Share Index gained 126.42 points (+0.34 percent) to close at 37,669.26 points.
\n Similarly, the KMI All Share Islamic Index gained 155.65 points (+0.56 percent) to close at 27,949.42 points.
\nTotal volumes traded for the KSE-100 Index increased by 51.25 million to 306.79 million shares against 255.54 million shares a session earlier. The overall market volumes increased by 135.26 million shares to 661.62 million shares against 526.36 million shares traded a session earlier.
\nAmong scrips, WTL topped the volumes with 70.27 million shares, followed by PRL (37.13 million) and SNGP (22.48 million). Stocks that contributed significantly to the volumes included WTL, PRL, SNGP, CNERGY, and UNITY, which formed over 26 percent of total volumes.
\nA total of 357 companies traded shares in the stock exchange against 363 companies a session earlier, out of which shares of 194 closed up, shares of 146 companies closed down while shares of 17 companies remained unchanged. A total of 96 companies traded shares in the KSE-100 Index against 97 a session earlier, out of which share prices of 50 companies closed up, 43 closed down and three remained unchanged.
\nThe number of total trades increased to 263,656 from 232,768 a session earlier, while the value traded increased by Rs4.81 billion to Rs24.35 billion against Rs19.54 billion in the previous session. This is the highest traded value during the last two years.
\nIn terms of rupee, RMPL remained the top gainer with an increase of Rs300 (+3.49 percent) per share, closing at Rs8,900. The runner-up remained PECO, the share price of which climbed up by Rs30.69 (+7.5 percent) to Rs439.88. FASM remained the top loser for the second straight session with a decrease of Rs27.89 (-7.5 percent) per share, closing at Rs343.96, followed by SIEM, the share price of which fell by Rs22.75 (-2.9 percent) to close at Rs762 per share.
\nThe major sectors taking the index towards north remained oil & gas exploration companies (118 points), oil & gas marketing companies (85 points), food & personal care products (30 points), refinery (26 points), and cable & electrical goods (14 points). The major companies adding points to the index remained PSO (69 points), OGDC (62 points), PPL (57 points), UNITY (19 points), and ATRL (18 points).
\nThe sectors taking the index towards south were commercial banks (99 points), power generation & distribution (68 points), cement (58 points), automobile assembler (44 points), and fertilizer (23 points). The major companies depriving the index of points remained HUBC (93 points), BAHL (45 points), MTL (42 points), MCB (38 points), and EFERT (36 points).<\/p>\n","protected":false},"excerpt":{"rendered":"
KARACHI Pakistan Stock Exchange (PSX) inched up during a volatile session on Wednesday, with the benchmark KSE-100 Index gaining 14.13 points (0.02 percent) to close at 56,680.06 points, the highest ever close witnessed in its history. The market opened on a positive note but turned to profit-taking soon after hitting the day\u2019s high within the […]<\/p>\n","protected":false},"author":2,"featured_media":363666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[205],"class_list":{"0":"post-368264","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-psx"},"yoast_head":"\n