DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) extended its bullish trend, with the KSE-100 index crossing the 86,000-point threshold, signalling strong market sentiment. Investors focused on key sectors, driving consistent gains and keeping the market in the green. As per analysts, investor’s buying power increased due to the ongoing Shanghai Cooperation Organisation (SCO) summit.

Equity markets worldwide showed mixed trends. Crude oil prices moved south with WTI crude oil price falling by -0.69% to $79.09. While Brent crude oil price was down by 0.70% to $73.73. (As at 3:48 PM PST, Source: Investing.com).

The benchmark KSE-100 index surged beyond the 86,000-point threshold, attaining a daily high of 86,513.46 with an increase of 673.12 pts. It ultimately closed the session up by 365.32 pts at 86,205.66. The KMI-30 index experienced a substantial rise of 1,196.46 pts finishing the day at 130,556.78. Meanwhile, the KSE All-Share Index advanced by 350.98 pts concluding the session at 55,292.64.

The total traded volume went up from 421.98 mn shares in the previous session to 473.41 mn shares. The Searle Company Limited (SEARL +9.12%), The Hub Power Company Limited (HUBC +2.93%) and Hum Network Limited (HUMNL +0.99%) dominated the volume chart. The scrips had 26.01 mn shares, 24.35 mn shares, and 22.57 mn shares exchanged, respectively.

The sectors propelling the benchmark KSE 100 index's upward trajectory included the Oil and Gas Exploration sector which contributed +134.17 pts, the Power Generation and Distribution sector with +123.17 pts and the Oil and Gas Exploration sector which added +117.76 pts. On a company-specific basis, the leading contributors were Pakistan Petroleum Limited (PPL) which contributed +96.62 pts, The Hub Power Company Limited (HUBC) with +90.87 pts and Pakistan State Oil Company Limited (PSO) which added +70.83 pts.

The Oil and Gas Marketing Companies sector gained 4.44% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO +5.38%), Attock Petroleum Limited (APL +4.74%), Sui Northern Gas Pipelines Limited (SNGP +2.21%) and Shell Pakistan Limited (SHEL +5.93%), are all closed in positive territory.

Values as at 04:15