DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) maintained its robust momentum on Thursday, recording gains for the third consecutive session. Throughout the day, indices experienced steady growth, while trading volumes plunged compared to the previous close.

Equity markets around the world exhibited mixed trends. Crude oil prices moved north with WTI crude oil prices rising by 2.05% to $71.54. While Brent crude oil price was up by 1.88% to $75.29. (As at 3:55 PM PST, Source: Investing.com).

The benchmark KSE 100 index rose by 991.73 pts reaching an intraday high of 82,958.74. It ultimately closed up by 754.76 pts at 82,721.77. Meanwhile, the KMI 30 index surged by 360.55 pts finishing at 126,727.12. The KSE All Share Index closed at 52,565.66 marking an increase of 243.43 pts.

Total traded volumes went down from 360.81 mn shares in the previous session to 319.73 mn shares. Top contributor to the volume chart were Worldcall Telecommunication Limited (WTL -0.83%). Followed by Fauji Cement Company Limited (FCCL -0.95%) and Fauji Fertilizer Bin Qasim Limited (FFBL +5.98%). The scrips had 23.24 mn shares, 21.63 mn shares and 15.26 mn shares traded, respectively.

Sectors contributing positively to the benchmark KSE 100 index included the Fertilizer sector, which added 551.48 pts, the Banking sector with 79.69 pts and the Cement sector which contributed 67.65 pts. In terms of individual companies, the top contributors were Fauji Fertilizer Company Limited (FFC) with 413.46 pts, Engro Fertilizers Limited (EFERT) with 63.91 pts and Pakistan Petroleum Limited (PPL) with 54.84 pts.

The Cement sector gained 0.66% in its cumulative market capitalization. Lucky Cement Limited (LUCK +0.65%), Bestway Cement Limited (BWCL +0.23%), Pioneer Cement Limited (PIOC +2.53%) and Maple Leaf Cement Factory Limited (MLCF +1.65%), all closed positive.

Values as at 04:15