DAILY MARKET WRAP

After three sluggish sessions, the bulls at the Pakistan Stock Exchange (PSX) regained momentum on Tuesday. Indices saw steady gains throughout the day, accompanied by a rise in trading volumes from the prior session's close.

Equity markets around the world showed mixed trends. Crude oil prices moved south with WTI crude oil price falling by 0.57% to $67.78. While Brent crude oil price was down by 0.52% to $71.33. (As at 3:51 PM PST, Source: Investing.com).

During the day, the benchmark of the KSE 100 index continued to rise, reaching a maximum of 81,980.37 for the day, reflecting an increase of 866.16 pts. It ultimately settled at 81,804.59 up by 690.39 pts. The KMI 30 index climbed by 2,050.33 pts closing at 126,801.49. While the KSE All Share index gained 452.33 pts finishing at 52,266.56.

The total traded volume went up from 297.68 mn shares in the previous session to 358.79 mn shares. The highest participation was witnessed in Fauji Cement Company Limited (FCCL +5.30%) with 29.13 mn shares exchanged. Followed by The Hub Power Company Limited (HUBC +5.98%) and Worldcall Telecom Limited (WTL +3.33%). The scrips had 19.62 mn shares and 19.05 mn shares traded respectively.

Sectors contributing to the rise in the KSE 100 index included the Power Generation and Distribution sector which added 244.45 pts, followed by the Oil and Gas Exploration sector with a gain of 233.40 pts, and the Cement sector which contributed 108.24 pts. Among individual companies, The Hub Power Company Limited (HUBC) added 221.53 pts, Mari Petroleum Company Limited (MARI) led with 173.01 pts, and Oil and Gas Development Company Limited (OGDC) boosted the index by 53.98 pts.

The Power Generation and Distribution sector gained 3.95% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +5.98%), K-Electric Limited (KEL 2.93%), Pakgen Power Limited (PKGP +0.07%) and Nishat Power Limited (NPL +3.55%) all ended positive.

Values as at 04:15