DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) sustained its upward trend concluding Tuesday's trading session with positive results. The indices demonstrated consistent gains throughout the day reflecting increased investor confidence and trading volume rose compared to the prior session. This positive momentum suggests a favourable market sentiment, potentially driven by various economic indicators and investor optimism.

Equity markets worldwide exhibited mixed trends, while crude oil prices edged higher. WTI crude rose by 1.06%, reaching $70.78, and Brent crude climbed 0.96% to $75.00. (Data as of 3:44 PM PST, Source: Investing.com).

Bullish momentum drove the benchmark KSE 100 index to a daily high of 86,846.04 reflecting an increase of 788.52 pts. The index ultimately closed in positive territory rising by 409.06 pts to finish at 86,466.58. Furthermore, the KMI 30 index experienced a substantial gain of 1,637.50 pts ending the day at 132,530.16, while the KSE All Share index advanced by 302.16 pts closing at 55,752.14.

Market volume climbed from 474.76 mn shares in the prior session to 721.93 mn shares. Key contributors to the volume chart included K-Electric Limited (KEL +13.41%), Worldcall Telecom Limited (WTL +1.63%), and Fauji Foods Limited (FFL -2.67%). The scrips had traded 224.20 mn shares, 30.20 mn and 26.10 mn shares, respectively.

Sectors contributing to the rise of the benchmark KSE 100 index included the Technology and Communication sector (+178.73 pts), the Cement sector (+129.08 pts) and the Power Generation and Distribution sector (+101.49 pts). In terms of individual companies, Systems Limited (SYSTEMS +174.04 pts), Lucky Cement Limited (LUCK +62.46 pts) and The Hub Power Company Limited (HUBC +51.71 pts) bolstered the index with their respective gains.

The Technology and Communication sector gained 3.57% in its cumulative market capitalization. Systems Limited (SYS +7.91%), Air Link Communication Limited (AIRLINK +0.75%), TRG Pakistan Limited (TRG +0.05%), and Avanceon Limited (AVN +2.52%), all closed in green.

Values as at 04:15