Profit statements

The PSX jumps 1120 points on a balanced hike in key rates

KARACHI: The Pakistan Stock Exchange (PSX) turned bullish on Wednesday, with the benchmark KSE-100 gaining 1,120.15 points or 2.59%, to close at 44,366.86 points.

The market opened on a bullish note, gaining over 700 points early in the session, and continued this momentum throughout the session.

It can be recalled that the State Bank of Pakistan (SBP) on Tuesday raised its key rate by 100 basis points, deciding to keep its monetary policy broadly unchanged in the short term. This gave the market a positive trigger as investors expected an increase of up to 150 basis points. Additionally, KIBOR rates are also expected to fall, with the SBP noting the recent surge in secondary market yields calling it unjustified.

The KSE-100 index traded in a range of 1,260.76 points, showing an intraday high of 44,507.47 points and a low of 43,246.71 points, the last day’s close.

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In total, 383 companies traded shares on the stock exchange, including 304 closed shares, 70 closed shares while the shares of 9 companies remained unchanged. Of 96 companies listed in the KSE-100 index, 81 closed, 14 closed and one remained unchanged.

Overall market volumes increased from 185.74 million to 398.09 million shares. Total volumes traded for the KSE-100 index increased by 85.77 million shares to 178.35 million shares. The total number of transactions increased from 44,220 to 137,959, while the traded value increased from 4.88 billion rupees to 11.65 billion rupees. The overall market capitalization increased by 190.33 billion rupees.

The main sectors that pushed the index north were cement with 263 points, technology and communications with 196 points, oil and gas exploration companies with 110 points, oil and gas marketing companies with 74 points and chemistry with 62 points. The highest number of points added to the index was LUCK which contributed 124 points, followed by SYS with 91 points, TRG with 81 points, PPL with 60 points and PSO with 50 points.

The main sectors taking the index to the south were commercial banks with 2 points and modarabas with one point. The largest number of points removed from the index was by BAHL which stripped the index by 30 points followed by HUBC with 8 points, HBL with 8 points, MUREB with 5 points and MARI with 3 points.

In a separate development, PSX signed an exclusive data license agreement with leading exchange operator Deutsche Börse AG to improve the depth and coverage of its market data product offerings globally.

According to a statement released on Wednesday, DBAG – a German company offering a marketplace for the trading of stocks and other securities – would be the exclusive licensor of PSX market data to all current and potential international consumers of PSX data for an initial term. five years.

As of January 1, 2022, Deutsche Börse will be the sole licensor of PSX market data for international customers. This data cooperation agreement is an important milestone for the PSX, which will allow the Pakistan Stock Exchange to expand the reach of its market data globally.

With the deal, the Pakistani stock exchange will increase its global footprint, with the aim of leveraging Deutsche Börse’s international reach to significantly expand its market data customer base and attract foreign investors to participate in the PSX markets.