DAILY MARKET WRAP

Bulls at the Pakistan Stock Exchange (PSX) began the week with a strong comeback, driving the benchmark KSE 100 index to an intraday high of 86,172.79. The index surged by over 800 points during the session, while investor activity rose compared to the preceding session. This notable rebound reflects renewed investor confidence.

Global equity markets showed mixed trends. Crude oil prices moved north with WTI crude oil price rising by 2.14% to $70.16. While Brent crude oil price was up by 1.78% to $74.36. (As at 3:54 PM PST, Source: Investing.com).

Bulls propelled the benchmark KSE 100 index to a daily peak of 86,172.79 achieving a gain of 922.70 pts. The index ultimately closed higher by 807.42 pts at 86,057.52. Meanwhile, the KMI 30 index rose by 1,623.68 pts reaching 130,892.67 and the KSE All Share index increased by 522.74 points, finishing at 55,449.98.

Total trading volume grew from 323.83 mn shares in the previous session to 474.76 mn shares. The top performers by volume were Kohinoor Spinning Mills Limited (KOSM) which saw a 12.98% increase with 59.10 mn shares traded, Pakistan International Bulk Terminal (PIBTL), which rose by 6.18% with 27.83 mn shares, and Flying Cement Company Limited (FLYING), which led by 9.94% gain and 18.49 mn shares traded.

Sectors propelling the benchmark KSE 100 index into positive territory included the Cement sector (+132.17 pts), the Banking sector (+107.17 pts) and the Automobile Assembler sector (+103.42 pts). On a company level, the top contributors were Millat Tractors Limited (MTL +77.68 pts), United Bank Limited (UBL +61.04 pts) and Attock Refinery Limited (ATRL +53.08 pts).

The Automobile Assembler sector gained 2.14% in its cumulative market capitalization. Millat Tractors Limited (MTL +5.22%), Atlas Honda Limited (ATLH +1.81%), Sazgar Engineering Works Limited (SAZEW +3.79%), and Honda Atlas Cars (Pakistan) Limited (HCAR +3.61%), all closed in positive territory.

Values as at 04:15