Tuesday, May 28, 2024

KSE-100 Index Gains 926.92 Points, Reverses Post-Election Losses

Pakistan's benchmark KSE-100 index demonstrated resilience for a second consecutive day, posting an impressive gain of 926.92 points, or 1.51 percent.

Closing the session at an impressive 62,153.84, the index effectively narrowed post-election losses to 1,990 points, or 3.1 percent.

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This positive momentum is attributed to increased clarity on the political front, instilling renewed confidence in investors.

Throughout the trading day, the index maintained an upward trajectory, reaching an intraday high of 62,432.26 and a low of 61,635.62, with a total volume of 179.31 million shares traded.

Notably, the market displayed a strong bullish bias, with 83 companies closing higher, while only 8 recorded losses. Key contributors to the index's upward movement included Oil & Gas Exploration Companies, Fertiliser, Oil & Gas Marketing Companies, Commercial Banks, and Technology & Communication sectors.

Conversely, sectors such as Modarabas, Synthetic & Rayon, and Tobacco restrained the index.

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Individual companies like PPL, ENGRO, and EFERT played a pivotal role in lifting the index, while others exerted downward pressure.

In the broader market, the All-Share index closed at 41,876.85, posting a net gain of 586.05 points, with a total market volume of 303.886 million shares.

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Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.

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