DAILY MARKET WRAP

Bulls Roar – KSE 100 Crosses 104,000-mark!

On Tuesday, the Pakistan Stock Exchange (PSX) witnessed a stellar performance, with bullish momentum driving the benchmark KSE-100 Index past the historic 104,000 level. This marked a significant milestone, solidifying the day as a landmark in the exchange's history.

Equity markets worldwide showed mixed trends. Crude oil prices moved north with WTI crude oil price rising by 0.87% to $68.69. While Brent crude oil price was up by 0.78% to $72.39. (As at 3:57 PM PST, Source: Investing.com).

The KSE-100 index began the session on a volatile note briefly retreating by 449.35 pts to an intraday low of 102,825.60. However, a strong rally by bullish investors drove the index to an intraday high of 104,680.89 reflecting a significant gain of 1,405.94 pts. By the close of trading, the index maintained positive momentum adding 1,284.13 pts to settle at 104,559.07. The KMI-30 index also advanced robustly rising by 2,225.55 pts to conclude at 154,432.50, while the KSE All Share index expanded by 719.57 pts closing at 65,741.58.

Investor participation showed notable growth with trading volumes climbing to 1.77 bn shares up from 1.56 bn shares in the previous session. Among the most active stocks were Cnergyico PK Limited (CNERGY +17.48%), Worldcall Telecom Limited (WTL +0.69%) and Hascol Petroleum Limited (HASCOL +8.82%), with trading volumes of 246.71 mn, 89.42 mn and 87.02 mn shares, respectively.

Key sectors that bolstered the KSE-100 index included Fertilizer (+389.38 pts), Oil & Gas Exploration (+257.28 pts) and Inv. Banks/Inv. Cos./Securities Cos. (+115.72 pts). Leading corporate contributors were Engro Corporation Limited (ENGRO +192.14 pts), Mari Petroleum Company Limited (MARI +153.02 pts) and Pakistan Oilfields Limited (POL +115.22 pts), which collectively propelled the index to close on a high note.

The Inv. Banks/Inv. Cos./Securities Cos. sector gained 3.53% in its cumulative market capitalization. PIA Holding Company Limited (PIAHCLA +4.24%), Dawood Hercules Corporation Limited (DAWH +5.22%), Pakistan Stock Exchange Limited (PSX +5.37%), and Intermarket Securities Limited (IMS +8.53%), all closed in positive.

Values as at 04:15