DAILY MARKET WRAP

Bulls Roar – KSE 100 Crosses 114,000-mark!

The Pakistan Stock Exchange (PSX) witnessed a historic milestone on Thursday, as the benchmark KSE-100 Index surged past the 114,000 mark reflecting robust investor confidence. However, trading volume rose compared to the previous session. According to analysts, optimism was driven by expectations of a potential reduction in the policy rate.

Global equity markets displayed a mixed performance, while crude oil prices saw an upward trend, with WTI crude rising 0.07% to $70.34, and Brent crude increasing by 0.05% to $73.56. (as at 3:45 PM PST, Source: Invetsing.com).

During the trading session, the KSE-100 Index peaked at an intraday high of 114,408.62 reflecting a gain of 3,598.41 pts or 3.25%. By the end of the session, it settled at 114,180.51 up by 3,370.29 pts. The KMI-30 Index also advanced significantly increasing by 5,690.24 pts to close at 178,069.87. Meanwhile, the KSE All-Share Index rose by 1,816.32 pts concluding at 72,012.37.

Investor activity surged with trading volume increasing from 1.08 bn shares to 1.46 bn shares. Worldcall Telecom Limited (WTL +8.49%), Cnergyico PK Limited (CNERGY +1.41%), and Pakistan International Bulk Terminal (PIBTL +12.39%) emerged as the most actively traded stocks, with 232.93 mn, 80.19 mn and 70.68 mn shares traded, respectively.

Sectoral contributions to the KSE-100’s positive momentum were led by the Fertilizer (+1,247.10 pts), Oil and Gas Exploration sector (+932.71 pts) and Oil and Gas Marketing sector (+314.07 pts). On an individual company basis, Fauji Fertilizer Company Limited (FFC +792.43 pts), Mari Petroleum Company Limited (MARI +351.89 pts) and Pakistan Petroleum Limited (PPL +316.08 pts) emerged as the top contributors.

The Oil and Gas Exploration sector gained 5.67% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +4.18%), Mari Petroleum Company Limited (MARI +6.42%), Pakistan Petroleum Limited (PPL +7.83%) and Pakistan Oilfields Limited (POL +3.27%), all ended in green.

Values as at 04:15