DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) achieved a historic milestone as the benchmark KSE-100 Index closed above the 92,000 mark for the first time on Tuesday. The index sustained positive momentum for most of the trading session, and trading volumes showed a notable increase compared to the previous day.

Globally equity markets exhibited mixed performance. Crude oil prices experienced upward movement, with the price of WTI crude rising by 0.32% to $71.70, while Brent crude prices increased by 0.33% to $75.33. (as at 3:44 PM PST, Source: Invetsing.com).

During the trading day, the KSE-100 index briefly dipped into negative territory losing 401.91 pts and reaching a low of 91,536.09. However, it subsequently gained traction achieving a high of 92,514.30 which marked an increase of 576.30 pts. Ultimately, the index settled higher by 366.32 pts concluding at 92,304.32. Additionally, the KMI 30 index rose by 585.69 pts finishing the day at 140,786.50, while the KSE All Share index grew by 251.31 pts ending at 58,659.45.

Investor activity surged significantly with trading volumes increasing from 587.32 mn shares in the previous session to 748.09 mn shares. The most actively traded stocks included Power Cement Limited (POWER +9.41%), Sui Southern Gas Company Limited (SSGC +10.03%) and Fauji Foods Limited (FFL +4.34%). The scrips had 66.26 mn shares, 51.96 mn shares and 32.39 mn shares traded, respectively.

The sectors contributing to the KSE-100 index's success included the Automobile Assembler sector which added 127.37 pts, the Power Generation and Distribution sector which contributed 66.89 pts and the Cement sector which accounted for 62.60 pts. Key company contributors included Lucky Cement Limited (LUCK) which added 80.21 pts, The Hub Power Company Limited (HUBC) with an increase of 63.53 pts and Oil & Gas Development Company Limited (OGDC) contributing 55.96 pts.

The Automobile Assembler sector gained 3.38% in its cumulative market capitalization. Indus Motor Company Limited (INDU +3.70%), Millat Tractors Limited (MTL 2.17%), Atlas Honda Limited (ATLH +2.95%) and Sazgar Engineering Works Limited (SAZEW +4.75%), all closed in green.

Values as at 04:15