DAILY MARKET WRAP

Winning Streak Continues – KSE 100 Crosses 100,000!

The benchmark KSE 100 index soared beyond the 100,000 milestone on Thursday. The bulls on the Pakistan Stock Exchange (PSX) demonstrated sustained strength, maintaining their upward momentum throughout the day. Indices consistently recorded gains, while trading volumes gradually increased compared to the previous session.

Global equity markets exhibited mixed trends, while crude oil prices continued their upward trend. WTI crude rose by 0.67% to $69.18, and Brent crude advanced 0.73% to $72.83. (As at 3:40 PM PST, Source: Investing.com).

The benchmark KSE-100 index surged to an intraday peak of 100,540.29 reflecting a robust gain of 1,271.04 pts. By the session's close, the index registered an impressive rise of 813.52 pts or 0.82% settling at 100,082.77 and surpassed 100,000 pts for the first time. The KMI-30 index climbed by 2,437.74 pts to close at 147,220.79, while the KSE All-Share Index added 691.64 pts concluding the day at 63,083.14.

Investor activity was robust with trading volumes soaring from 1.05 bn shares in the previous session to an impressive 1.16 bn shares. The Bank of Punjab (BOP) led the activity board with a 12.74% gain and 179.22 mn shares traded. Followed by K-Electric Limited (KEL, +4.85%) and Bank Makramah Limited (BML, +1.87%). The scrips had 64.87 mn shares and 60.29 mn shares traded respectively.

The sectoral performance showcased strong contributions to the KSE-100 index's upward momentum, led by the Oil and Gas Exploration sector (+384.78 pts), Cement sector (+279.87 pts) and Technology and Communication sector (+173.03 pts). Among individual companies, Pakistan Petroleum Limited (PPL) was the largest contributor, adding 243.37 pts, followed by Habib Bank Limited (HBL, +142.99 pts) and Oil and Gas Development Company Limited (OGDC, +112.03 pts).

The Oil and Gas Exploration sector gained +2.96% in its overall market capitalization. Oil and Gas Exploration Limited (OGDC 2.83%), Mari Petroleum Company Limited (MARI +0.64%), Pakistan Petroleum Limited (PPL +7.32%) and Pakistan Oilfields Limited (POL +0.27%), all closed in positive.

Values as at 04:15