DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) saw a resurgence of bullish activity on Thursday following a subdued performance the previous day. Indices rose steadily throughout the session, with trading volumes higher than the prior session.

Global equity markets exhibited mixed trends, while crude oil prices fell, with WTI crude decreasing by 0.24% to $75.05 and Brent crude by 0.37% to $78.04 as of 3:47 PM PST.

The benchmark KSE 100 index dropped to 77,085.48 during intraday trading, losing 29.02 points. However, it rebounded in the second half, reaching a high of 77,969.27, gaining 854.77 points, and closing 759.73 points higher at 77,874.22. The KMI 30 index also saw significant gains, adding 1,945.10 points to end at 124,042.00, while the KSE All Share Index increased by 601.08 points to finish at 49,969.99.

Overall market volume rose from 447.36 million shares in the previous session to 491.06 million shares. Kohinoor Spinning Mills Limited, Fauji Fertilizer Bin Qasim Limited, and Air Link Communication Limited led the volume chart with 93.86 million, 33.97 million, and 25.15 million shares traded, respectively.

Sectors driving the benchmark KSE 100 index higher included Oil and Gas Exploration Companies (488.12 points), Cement (118.08 points), and Banking (93.01 points). On a company level, Mari Petroleum Company Limited (MARI, 220.63 points), Oil and Gas Development Company Limited (OGDC, 193.17 points) and Pakistan Petroleum Limited (PPL, 74.19 points) were the top contributors.

The cement sector attained 1.53% in its cumulative market capitalization rising by 1.53%. Key players such as Lucky Cement Limited (LUCK, +1.56%), Fauji Cement Company Limited (FCCL, +3.70%), Kohat Cement Company Limited (KOHC, +5.47%), and Pioneer Cement Limited (PIOC, +3.28%) all closed in positive territory.

Values as at 04:15 PM