DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed the week with exceptional gains, marking new historic highs. The benchmark KSE-100 index surged by 2.13% in a single day, with indices maintaining a positive trajectory throughout the session. Trading volumes depreciated compared to the previous session.

Global equity markets displayed mixed trends, while crude oil prices edged upward. WTI crude rose by 2.17% to reach $70.76, and Brent crude climbed by 1.96% to $74.24 (as of 4:54 PM PST, source: Investing.com).

Over the past week, the KSE-100 index recorded a significant increase of 0.96%. Early in the session, the index dipped into negative territory hitting an intraday low of 88,852.68 (down by 87.04 pts) before a strong bullish response lifted it to an intraday high of 91,133.28 (up by 2,166.51 pts or 2.44%). The index ultimately closed with a gain of 1,893.08 pts at 90,859.85 nearing the 91,000-point level. The KMI-30 index also increased by 3,331.87 pts closing at 137,043.37, while the KSE All-Share Index rose by 958.37 pts to settle at 57,872.06.

Investor participation rose substantially with trading volume dropping from 545.86 mn shares in the previous session to 465.47 mn shares. Leading the volume chart were Silkbank Limited (SILK -14.55%), K-Electric Limited (KEL +5.18%) and Worldcall Telecom Limited (WTL 0.00%). The scrips had 62.53 mn shares, 57.57 mn shares and 27.21 mn shares, traded respectively.

Key sectors driving the market rally included the Banking sector (+510.39 pts), the Oil and Gas Exploration Companies sector (+445.23 pts) and the Cement sector (+331.00 pts). Among individual contributors, United Bank Limited (UBL +312.48 pts), Pakistan Petroleum Limited (PPL +224.90 pts) and Oil and Gas Development Company Limited (OGDC +154.12 pts) provided notable boosts to the KSE-100 index.

The Oil and Gas Exploration sector gained +3.87% in its overall market capitalization. Oil and Gas Exploration Limited (OGDC 4.28%), Mari Petroleum Company Limited (MARI +1.61%), Pakistan Petroleum Limited (PPL +7.33%) and Pakistan Oilfields Limited (POL +0.63%), all closed in green.

Values as at 05:15