DAILY MARKET WRAP

Positive Trend Continues at PSX!

The Pakistan Stock Exchange (PSX) ended Monday’s session with notable gains, extending momentum from the previous trading day. Despite a brief early dip, the indices maintained an upward trajectory throughout the session, although overall trading volume declined compared to the prior session.

Global equity markets exhibited a mixed performance, while crude oil prices experienced an upward trend. WTI crude rose by 0.79% reaching $67.45, and Brent crude advanced by 0.82% to $71.62. (As at 3:58 PM PST, Source: Investing.com).

The benchmark KSE-100 Index recorded an intraday low of 94,620.45 a decline of 143.20 pts. However, it rebounded strongly to an intraday high of 95,307.92 marking an increase of 544.27 pts. By the end of the session, the index settled at 94,995.67 up by 232.03 pts. Similarly, the KMI-30 Index surged by 87.12 pts closing at 144,630.38. The KSE All-Share Index also saw an increase gaining 132.31 pts to close at 60,711.07.

The overall market volume declined from 892.46 mn shares in the previous session to 764.91 mn shares. Hascol Petroleum Limited (HASCOL) led the volume chart with 85.14 mn shares traded gaining 12.14%. Fauji Foods Limited (FFL) followed with 60.49 mn shares down 0.52%, while The K-Electric Limited (KEL) saw 58.38 mn shares traded rising by 2.58%.

Key sectors propelling the KSE-100 index into the green included Fertilizer (+96.80 pts), Oil & Gas Exploration (+79.54 pts) and Miscellaneous (+47.42 pts). Among individual contributors, Fauji Fertilizer Company Limited (FFC) added 114.40 pts, Habib Bank Limited (HBL) contributed 85.61 pts and Pakistan Services Limited (PSEL) added 47.48 pts to the index.

The Fertilizer sector gained 0.59% in its cumulative market capitalization. Fauji Fertilizer Company Limited (FFC +2.03%), Engro Corporation Limited (ENGRO +0.55%), Fatima Fertilizer Company Limited (FATIMA +0.24%) and Fauji Fertilizer Bin Qasim Limited (FFBL +2.67%), all closed in green.

Values as at 04:15