DAILY MARKET WRAP

PSX Ends Week on a Positive Note – KSE 100 Crosses 109,000 pts!

The Pakistan Stock Exchange (PSX) concluded the week on a bullish note, with the benchmark KSE-100 Index reaching record levels, crossing 109,000 marks. Investors maintained an optimistic stance from the outset, driving indices upward and boosting trading volumes compared to the previous session. Analysts attribute the positive sentiment to anticipated cuts in the policy rate.

Global equity markets displayed a mixed performance. Meanwhile, crude oil prices declined with WTI crude slipping 0.91% to $67.68 and Brent crude falling 0.93% to $71.42. (As at 4:46 PM PST, Source: Investing.com).

The benchmark KSE-100 index recorded a weekly gain of 7.59%. The KSE-100 index added an impressive 1,239.12 pts during intraday trading peaking at 109,478.09 before closing 814.98 pts higher at 109,053.95. Similarly, the KMI-30 index climbed 1,180.03 pts to settle at 164,257.53, while the KSE All Share Index gained 544.04 pts to end the session at 68,728.64.

Market activity witnessed a surge, with traded volumes increasing from 1.65 bn shares in the previous session to 1.69 bn shares. Key players on the volume chart included Worldcall Telecom Limited (WTL, +10.06%) with 368.90 mn shares, The Bank of Punjab (BOP, +7.43%) with 115.55 mn shares and Cnergyico PK Limited (CNERGY, +0.00%) with 93.62 mn shares.

Sector-wise, the Banking (+465.37 pts), Fertilizer (+215.10 pts) and Inv. Bank/Inv. Cos./Securities Cos. (+148.08 pts) sectors emerged as the largest contributors to the benchmark index’s gains. On the corporate front, top performers included Engro Corporation Limited (ENGRO, +299.31 pts), United Bank Limited (UBL, +240.26 pts) and Meezan Bank Limited (MEBL, +157.29 pts), significantly boosting the index.

The Inv. Bank/Inv. Cos./Securities Cos. sector gained 3.08% in its cumulative market capitalization. Dawood Hercules Corporation Limited (DAWH +7.33%), Jahangir Siddiqui & Co. Ltd. (JSCL +0.38%), Dawood Lawrencepur Limited (DLL +8.85%) and AKD Securities Limited (AKDSL +4.25%), all closed green.

Values as at 05:15