DAILY MARKET WRAP

PSX Ends Week in Green!

Positive momentum persisted at the Pakistan Stock Exchange (PSX) during the final trading session of the week. The indices remained in the green zone throughout the day, accompanied by a notable surge in trading volumes compared to the previous session.

Global equity markets exhibited a mixed performance, while crude oil prices experienced a downward trend. WTI crude declined by 0.50% to $69.75, and Brent crude fell by 0.44% to $73.90 (as of 4:52 PM PST, Source: Investing.com).

The benchmark KSE 100 index gained 3.20% WoW. The benchmark KSE-100 index saw a robust intraday high gaining 2,294.64 pts to touch 99,623.04. It ultimately closed 469.83 pts higher at 97,798.23. Conversely, the KMI-30 index shed 17.23 pts to end at 146,192.41, while the KSE All-Share Index fell by 36.27 pts to close at 62,096.37.

Trading activity increased significantly with volumes rising from 969.02 mn shares in the prior session to 1.25 bn shares. Key contributors to the volume leaderboard included Worldcall Telecom Limited (WTL +0.73%), K-Electric Limited (KEL -1.48%), and Hascol Petroleum Limited (HASCOL -9.36%), with 177.14 mn, 124.13 mn and 105.01 mn shares traded, respectively.

Key sectors that propelled the KSE-100 index were the Banking sector (+1,405.98 pts), Property (+18.15 pts) and Miscellaneous sector (+8.30 pts). On a company basis, Meezan Bank Limited (MEBL, +327.44 pts), Bank Al Habib Limited (BAHL, +258.54 pts) and MCB Bank Limited (MCB, +222.29 pts) emerged as the top contributors to the index’s positive movement.

The Banking sector went up by 5.50% in its cumulative market capitalization. Meezan Bank Limited (MEBL +9.53%), United Bank Limited (UBL +0.60%), MCB Bank Limited (MCB 6.69%) and Habib Bank Limited (HBL 7.27%), all closed in green.

Values as at 05:15