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PSX: KSE-100 rises 243 points in last session of FY22

KARACHI: The Pakistan Stock Exchange (PSX) on Thursday witnessed a bullish trend in the final hours of the day and gained 243.1 points in the last trading session of FY22.

The 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 the 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.

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, fertilizer, 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.

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