DAILY MARKET WRAP

PSX Starts Week with a Bang – KSE 100 Crosses 103,000 Mark!

The Pakistan Stock Exchange (PSX) commenced the week on a robust note, extending its upward trajectory and surpassing the 103,000-point milestone. Throughout the session, indices demonstrated consistent gains, complemented by a notable uptick in trading volumes compared to the previous close.

Global equity markets presented a mixed performance, while crude oil prices saw a notable rise WTI crude climbed 1.03% to $68.70, and Brent crude increased by 1.04% to $72.59. (As at 3:53 PM PST, Source: Investing.com).

The benchmark KSE-100 Index recorded an intraday high of 103,386.47 after gaining 2,029.15 pts. It eventually closed at 103,274.95 registering a net gain of 1,917.63 pts and crossing above the 103,000 mark. Similarly, the KMI-30 Index surged by 3,634.41 pts to conclude at 152,206.95, while the KSE All-Share Index added 1,101.58 pts to settle at 65,022.01.

Market activity was robust with trading volumes increasing to 1.56 bn shares from the previous session's 914.99 mn shares. Worldcall Telecom Limited (WTL, +6.57%) led the volume chart, with 213.51 mn shares traded, followed by Cnergyico PK Limited (CNERGY, +21.19%) with 196.91 mn shares. Fauji Foods Limited (FFL, +7.58%), with trading 68.33 mn shares.

Key sectors propelling the KSE-100 index include Fertilizer (adding 422.06 pts), Cement (383.93 pts) and Banking (364.61 pts). On a company-specific level, Engro Corporation Limited (ENGRO) contributed 194.15 pts, followed closely by Fauji Fertilizer Company Limited (FFC) with 173.26 pts and Meezan Bank Limited (MEBL) with 155.24 pts.

The Banking sector gained 1.90% in its cumulative market capitalization. Meezan Bank Limited (MEBL +4.67%), United Bank Limited (UBL +0.86%), MCB Bank Limited (MCB +1.35%) and Habib Bank Limited (HBL +0.80%), all ended positive.

Values as at 04:15