The PSX gains 92 points on positive indicators

KARACHI: The Pakistan Stock Exchange (PSX) remained positive on Thursday amid improving volumes, with the benchmark KSE-100 gaining 91.93 points (+ 0.21%) to close at 44,266.90 points.

The market opened on a positive note, dipped about 66 points the next moment, and then remained positive throughout the session. The results of the Pakistan Investment Bonds (GDP) auction have boosted investor confidence, as short-term interest rate hikes now seem out of the question.

The KSE-100 index traded in a range of 338.3 points, showing an intraday high of 44,446.9 points and a low of 44,108.6 points.

In total, 365 companies traded shares on the stock exchange, including 198 closed shares, 144 closed shares while the shares of 23 companies remained unchanged. Of 96 companies listed in the KSE-100 index, 53 closed, 38 closed and five remained unchanged.

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Overall market volumes increased from 88.64 million to 240.43 million shares. Total volumes traded for the KSE-100 index increased by 17.03 million to 85.05 million shares. The total number of transactions increased from 19,518 to 99,816, while the traded value increased from 1.47 billion rupees to 8.02 billion rupees. The overall market capitalization increased by 7.34 billion rupees.

Among scripts, HUMNL led volumes with 48.72 million shares, followed by TRG (19.93 million) and UNITY (17.71 million). Inventories that contributed significantly to volumes included HUMNL, TRG, UNITY, SMBL and WTL, which accounted for approximately 47% of total volumes.

The main sectors that pushed the index north were technology and communications with 69 points, investment banks / investment firms / securities firms with 12 points, cement with 12 points, production and electricity distribution with 5 points and food and personal care products with 5 points. The highest number of points added to the index was obtained by TRG which contributed 77 points, followed by UBL with 13 points, DAWH with 7 points, HMB with 7 points and UNITY with 6 points.

The main sectors taking the index to the south were commercial banks with 14 points, chemicals with 5 points, fertilizers with 4 points, paper and cardboard with 3 points and automotive assembler with 3 points. The largest number of points removed from the index was by SYS which stripped the index by 13 points followed by HBL with 12 points, MCB with 10 points, FFC with 7 points and MEBL with 7 points.

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