DAILY MARKET WRAP

Positive sentiments brewed at the Pakistan Stock Exchange (PSX) on Thursday. Indices oscillated between both directions until finally closing in green. Volume rose compared to preceding day.

Global equity markets showed mixed trend. Crude oil prices moved north, with WTI crude oil rising by 0.75% to $78.15. While Brent crude oil was up by 0.76% to $82.52. (As at 3:49 PM PST, Source: Investing.com).

Losing 230.60 pts, the benchmark KSE 100 index fell to day’s low of 74,726.07. Bulls then took over taking the index to day’s high of 75,284.74 with an addition of 328.07 pts. The index closed higher by 157.80 pts at 75,114.47. The KMI 30 index surged by 408.15 pts closing the day at 123,882.20. While the KSE All share index grew by 233.82 pts to end the day at 48,716.55.

Investor activity swelled from 584.14 mn shares in the previous session to 753.92 mn shares. K-Elektric Limited (KEL +11.25%), Worldcall Telecom Limited (WTL +7.41%) and Symmetry Group Limited (SYM -3.37%), were volume leaders of the session. The scrips had 191.62 mn shares and 94.79 mn shares and 47.72 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index forward included, Power Generation and Distribution sector (+101.58 pts), Oil and Gas Exploration sector (+78.36 pts) and Oil and Gas Marketing sector (+20.99 pts). Company-wise, Oil and Gas Development Company Limited (OGDC +75.97 pts), K-Electric Limited (KEL +46.58 pts) and Fauji Fertilizer Company Limited (FFC +27.17 pts), were top points contributors.

The Oil and Gas Exploration sector gained 0.80% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +2.68%), Pakistan Petroleum Limited (PPL +0.37%), Mari Petroleum Company Limited (MARI +0.14%), all closed in green.

Values as at 04:11 PM PST