DAILY MARKET WRAP

PSX Breaks Records – KSE 100 Gains Over 3,000 pts!

The Pakistan Stock Exchange (PSX) witnessed an extraordinary rally on Thursday, with the benchmark KSE-100 Index posting an unprecedented single-day gain of over 3,000 points, pushing it past the 108,000 threshold.

Worldwide equity markets exhibited mixed trends. Crude oil prices appreciated with WTI crude oil prices rising by 0.51% to $68.89. While Brent crude oil price was up by 0.33% to $72.55. (As at 3:39 PM PST, Source: Investing.com).

The KSE-100 Index achieved a fresh all-time high of 108,345.99 with a 3.08% gain of 3,241.65 pts. It settled above 108,000 points at 108,238.97 with an additional 3.134.63 pts. Similarly, the KMI-30 Index closed the week at 163,077.50 up by 6,798.15 pts, while the KSE All-Share Index rose 1,924.37 pts to conclude at 68,184.60.

Total market volumes for the session stood at 1.65 bn shares down from 1.75 bn shares in the prior session. The Bank of Punjab (BOP) emerged as the volume leader with 163.46 mn shares traded, registering an 11.00% increase. It was followed by Worldcall Telecom Limited (WTL) which reduced 1.24% with 150.48 mn shares traded, and Pakistan Refinery Limited (PRL), which gained 0.29% with 86.66 mn shares exchanged.

Sector-wise, the Banking sector led the rally contributing 702.10 pts to the KSE-100 Index, followed by Oil and Gas Exploration (+677.06 pts) and Fertilizer (+426.37 pts). Among individual companies, Mari Petroleum Company Limited (MARI) added 392.25 pts, Fauji Fertilizer Company Limited (FFC) contributed 286.56 pts and The Hub Power Company Limited (HUBC) supported with 232.65 pts.

The Banking sector gained 2.77% in its cumulative market capitalization. United Bank Limited (UBL +3.93%), Meezan Bank Limited (MEBL +4.24%), MCB Bank Limited (MCB +4.52%) and Habib Bank Limited (HBL +0.43%), all closed positive.

Values as at 04:15