PSX Closing Bell: Bulls Break the Red Spell

Mettis Global reported that the KSE-100 gained 663.59 points, or 0.41%, on Monday, closing at 163,038.46 after the previous session’s steep fall. Buying in cement, exploration and investment stocks supported the recovery, while lower crude prices provided some relief to market participants. The index swung through 2,227.02 points during the day, between 161,250.06 and 163,477.08.

Cement stocks contributed 345.05 points to the advance, followed by investment companies and securities at 187.77 points, and oil and gas exploration companies at 180.30 points. UBL was the largest positive contributor, adding 269.41 points; MEBL was the biggest drag, subtracting 205.88 points. The All-Share Index rose 267.57 points to 98,887.68, although 251 stocks fell and 196 advanced.

Trading volume across the market eased to 376.02 million shares from 398.94 million, while traded value declined by Rs2.01 billion to Rs16.19 billion. Despite the session’s rebound, the KSE-100 remained down 9.57% in the fiscal year and 6.33% so far in the calendar year.