DAILY MARKET WRAP

Bull run continued at the Pakistan Stock Exchange (PSX) for the third consecutive session this week. Indices accumulated gains from the word go! Market volumes also surged compared to previous session. As per analysts, the unceasing rise in the value of the Pakistani Rupee against the US Dollar added to the market's bullish momentum.

Equity markets around the globe showed positive trend whereas crude oil prices moved south. WTI crude oil price fell by 0.38% to $85.64. While Brent crude oil price was down by 0.29% to $87.40. (As at 3:54 PM PST, Source: Investing.com).

The benchmark KSE 100 index traded within the green zone all day long. During the day, it jumped to day’s high of 48,516.64 gaining 376.37 pts. The index settled higher by 334.26 pts at 48,474.54. The KMI 30 index appreciated by 832.37 pts ending at 81,931.03. While the KSE All share index was up by 239.01 pt at 32,372.16.

Investor participation appreciated from 349.01 mn shares in the previous session to 395.71 mn shares. K-Electric Limited (KEL +11.79%) continued to lead the volume chart with 145.13 mn shares traded contributing nearly 36.67% to the total traded volume. Next in line were Pakistan Refinery Limited (PRL +0.18%) and United Foods Limited (UNITY +2.98%). The scrips had 18.13 mn shares and 15.95 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index included, Fertilizer sector (+109.80 pts), Oil and Gas Exploration sector (+70.15 pts) and Power Generation and Distribution sector (+67.76 pts). Company-wise, Engro Corporation Limited (ENGRO +47.75 pts), The Hub Power Company Limited (HUBC +46.06 pts) and Fauji Fertilizer Company Limited (FFC +42.46 pts), were top points contributors.

The Power Generation and Distribution sector surged by 2.20% in its overall market capitalization. The Hub Power Company Limited (HUBC +2.09%), K-Electric Limited (KEL +11.79%), Kot Addu Power Company Limited (KAPCO +0.77%) and Lalpir Power Limited (LPL +0.45%), all closed positive.

Values as at 04:13 PM PST