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- DAILY MARKET WRAP
DAILY MARKET WRAP
DAILY MARKET WRAP
Bulls Regain Control of PSX!
The Pakistan Stock Exchange (PSX) ended Thursday's trading session in positive territory, recovering losses incurred during the previous three sessions. Market indices exhibited volatility throughout the day, oscillating between gains and losses before ultimately closing on a positive note. However, trading volumes decreased compared to the prior session.
Source: stockintel.com
Global equity markets displayed mixed trends, while crude oil prices experienced a decline. WTI crude oil prices dropped by 0.27% to $75.24, and Brent crude oil prices fell by 0.25% to $78.80. (as at 4:43 PM PST, Source: Invetsing.com).
The benchmark KSE-100 Index oscillated between an intraday high of 114,319.62 (up by 876.19 pts) and an intraday low of 113,234.31 (down by 209.12 pts) eventually closing with a gain of 594.36 pts at 114,037.79. The KMI-30 Index advanced by 1,381.08 pts to settle at 173,486.87, while the KSE All-Share Index rose by 328.75 pts to close at 70,675.56.
Investor activity decreased with volumes declining from 742.45 mn shares in the prior session to 674.65 m shares. The most actively traded stocks were Cynergyico PK Limited (CNERGY, +7.75%), WorldCall Telecom Limited (WTL, +5.29%) and Fauji Cement Company Limited (FCCL, +5.37%), with trading volumes of 143.37 mn, 78.19 mn and 47.17 mn shares, respectively.
Sector-wise, the Cement sector (+173.68 pts), Investment Banking sector (+103.83 pts) and Pharmaceutical sector (+99.83 pts) sectors drove the benchmark index higher. Top individual contributors to the KSE-100 Index gains included Engro Holdings Limited (ENGROH, +99.00 pts), Pakistan State Oil Company Limited (PSO, +82.52 pts) and Fauji Cement Company Limited (FCCL, +57.61 pts).
The Pharmaceutical sector gained 2.53% in its cumulative market capitalization. GlaxoSmithKline Pakistan Limited (GLAXO +2.69%), Abbott Laboratories (Pakistan) Limited (ABOT +1.79%), Haleon Pakistan Limited (HALEON +2.28%) and The Searle Company Limited (SEARL +4.20%), all closed in green.
Values as at 04:15