KSE-100 rises 0.59% in last trading session of FY22
- Absence of any significant developments resulted in mixed activity
The Pakistan Stock Exchange (PSX) witnessed a hybrid of upside and downside pressures on Thursday, as the KSE-100 index closed with a gain of 0.59% in the last trading session of FY22.
Absence of any significant developments to give direction to the market resulted in mixed activity from participants. Cherry-picking by investors lifted the index upward in early hours. Profit-booking emerged towards midday and erased gains, but a buying spree at the end of the session helped the index close higher.
The index ended the session at 41,540.83 points, following a gain of 243.1 points. The index ended June 2022 down 3.57%.
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Chemical, oil and gas marketing companies and refineries sectors took a hammering and saw a modest sell-off. On the flip side, oil and gas exploration, fertiliser, automobile and cement segments closed in the green.
A report from Capital State cited that investors witnessed a tug-of-war between bulls and bears during the last trading session of FY22. Indices swayed in both directions until finally settling in green, the report added.
Sectors pushing the benchmark KSE-100 index upward included banking (111.43 points), oil and gas exploration (58.81 points) and power generation and distribution (26.94 points).
Volume on the all-share index surged to 192.9 million from 142.2 million on Wednesday. The value of shares traded rose to Rs6.79 billion from Rs5.35 billion recorded in the previous session.
K-Electric was the volume leader with 17.5 million shares, followed by Agritech with 13.79 million shares, and Fauji Cement with 13.1 million shares.
Shares of 337 companies were traded on Wednesday, of which 168 registered an increase, 140 recorded a fall, and 29 remained unchanged.
On the economic front, the rupee fell to its all-time low of Rs211.93 per dollar during FY22 and ended the fiscal year at Rs204.85, with a loss of 30% in its value.
On Thursday, the local currency closed at 204.85, an appreciation of Re0.27 or 0.13% against the US dollar
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