DAILY MARKET WRAP

PSX Extends Gains – KSE 100 Crosses 94,000 Mark!

The Pakistan Stock Exchange (PSX) saw a robust performance, with bullish momentum driving the KSE-100 index well beyond the 94,000 mark. The session opened on a strong note with indices gaining momentum right from the outset, accompanied by increased investor engagement compared to the previous day.

Equity markets around the globe showed mixed trends. Crude oil prices moved north with WTI crude oil prices rising by 0.31% to $68.64. While Brent crude oil price rose by 0.32% to $72.51. (As at 3:44 PM PST, Source: Investing.com).

The KSE-100 index climbed to an intraday high of 94,289.97 marking an impressive gain of 934.55 pts or 1.00%, before closing with an increase of 836.47 pts at 94,191.89, surpassing the 94,000 mark. Similarly, the KMI-30 index rose by 998.10 pts finishing at 143,648.15, while the KSE All-Share index appreciated by 497.05 pts concluding the session at 60,306.57.

Market trading volumes swelled from the prior session’s 806.29 mn shares to 1.08 bn shares. Worldcall Telecom Limited (WTL) led in volume with a 9.52% increase and 177.39 mn shares traded, followed by Hascol Petroleum Limited (HASCOL) with a 13.87% gain and 59.22 mn shares traded and Treet Battery Limited (TBL) which rose by 9.26% with 47.94 mn shares exchanged.

Sector-wise, the Banking (+404.92 pts), Oil and Gas Exploration (+167.72 pts), and Refinery (+61.31 pts) sectors were instrumental in boosting the KSE-100 index. Leading corporate contributors included United Bank Limited (UBL, +121.68 pts), Oil & Gas Development Company Limited (OGDC, +100.22 pts) and Habib Bank Limited (HBL, +98.99 pts) which added notable points to the index.

The Oil and Gas Exploration sector gained 1.55% in its overall market capitalization. Oil and Gas Development Company Limited (OGDC +2.51%), Mari Petroleum Company Limited (MARI +0.61%) and Pakistan Petroleum Limited (PPL +1.65%) all closed in positive territory.

Values as at 04:15