DAILY MARKET WRAP

PSX Starts Week with a Bang!

Bulls at the Pakistan Stock Exchange (PSX) began the week with a strong comeback, driving the benchmark KSE 100 index to an intraday high of 114,189.72. The index surged by over 4,676.57 points during the session, while investor activity rose compared to the preceding session. This notable rebound reflects renewed investor confidence.

Global equity markets showed mixed trends. Crude oil prices depreciated with WTI crude oil price declining by 0.33% to $69.23. While Brent crude oil price was down by 0.30% to $72.34. (As at 3:49 PM PST, Source: Investing.com).

Bulls propelled the benchmark KSE 100 index to a daily peak of 114,189.72 achieving a gain of 4,676.57 pts. The index ultimately closed higher by 4411.27 pts at 113,924.42. Meanwhile, the KMI 30 index rose by 7450.95 pts reaching 176,941.33 and the KSE All Share index increased by 2417.75 points, finishing at 71,629.87.

Total trading volume grew from 747.81 mn shares in the previous session to 856.69 mn shares. The top performers by volume were Worldcall Telecom Limited (WTL) which saw a 7.50% increase with 71.05 mn shares traded, Cnergyico PK Limited (CNERGY), which rose by 14.89% with 66.47 mn shares, and Pak Elektron Limited (PAEL), which led by 5.00% gain and 38.65 mn shares traded.

Sectors propelling the benchmark KSE 100 index into positive territory included the Oil & Gas Exploration Companies sector (+882.18 pts), Fertilizer sector (+847.48 pts) and the Commercial Banks sector (+707.25 pts). On a company level, the top contributors were Oil & Gas Development Company Limited (OGDC +380.79 pts), Engro Corporation Limited (ENGRO +350.06 pts) and Fauji Fertilizer Company Limited (FFC +321.05 pts).

The Oil & Gas Exploration Companies sector gained 5.18% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC + 8.35%), Pak Petroleum Limited (PPL +5.31%), Mari Petroleum Company Limited (MARI +3.38%), Pakistan Oilfields Limited (POL +3.31%) all closed in territory.

Values as at 04:15