DAILY MARKET WRAP

PSX Ends Week in Green!

Bulls of the Pakistan Stock Exchange (PSX) overtook the bears on Friday ending the week in Green. Despite a positive start, indices gaiedn momentum as the session progressed, leading to a final descent into positive territory. The KSE 100 index closed the session with a significant gain, reflecting strong investor sentiment

Global equity markets showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 2.90% to $68.53. While Brent crude oil price was down by 1.10% to $72.08. (As at 4:51 PM PST, Source: Investing.com).

Bulls drove the benchmark KSE 100 index to intraday high of 109,846.64 gaining 3,571.67 pts. It settled higher by 3238.17 pts at 109,513.15. The KMI 30 index witnessed an increase of 5959.15 pts concluding the session at 169,490.38. While the KSE All share index jumped by 1727.86 pts ending at 69,212.12.

Overall market volumes were down from 1.15 bn shares in the last session to 747.81 mn shares. Worldcall Telecom Limited (WTL +5.26%), Pace (Pakistan) Limited (PACE +15,41%) and K-Electric Limited (KEL +1.92%), dominated the volume chart. The scrips had 99.94 mn shares, 43.28 mn shares and 40.64 mn shares traded, respectively. Out of the total scrips traded 274 advanced, 118 declined and 155 remained unchanged.

Sectors propelling the benchmark KSE 100 index into the green zone included Commercial Banks sector (+762.76 pts), Fertilizer sector (+578.57 pts) and Oil & Gas Exploration Companies sector (+480.22 pts). Company-wise, Fauji Fertilizer Company Limited (FFC +332.61 pts), Mari Petroleum Company Limited (MARI +305.73 pts) and Systems Limited (SYS +267.80 pts), were top points contributors.

The Commercial Banks sector gained 3.17% in its overall market cap. Standard Chartered Bank Pakistan Limited (SCBPL 8.19%), Askari Bank Limited (AKBL 8.08%), Bank AlFalah Limited (BAFL 7.36%) and Silk Bank Limited (SILK 6.52%), all closed in green.

Values as at 05:15