DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) continued its upward trajectory on Monday. Indices accumulated gains all day long while volume appreciated compared to previous session. Analysts ascribed the robust performance to political clarity. Additionally, the companies reported positive results at the beginning of earnings season which also boosted investor confidence.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.20% to $76.34. While Brent crude oil price was down by 0.20% to $80.64. (As at 3:58 PM PST, Source: Investing.com).

Accumulating 916.68 pts, the benchmark KSE 100 index reclaimed its position above the 63,000-mark reaching its peak for the day at 63,732.50. By the end of the trading day, it settled higher by 490.11 pts at 63,305.93. The KMI 30 index ballooned by 740.52 pts ending at 105,969.25. While the KSE All share index swelled by 232.03 pts closing the day at 42,361.02.

Market volume went up from 377.87 mn shares in the last session to 452.63 mn shares. K-Electric Limited (KEL +1.14%), Kohinoor Spinning Mills Limited (KOSM -0.44%) and Worldcall Telecom Limited (WTL +0.77%), were toppers of the volume chart. The scrips had 54.06 mn shares, 53.37 mn shares and 22.97 mn shares exchanged, respectively.

Sectors leading the benchmark KSE 100 index north included, Banking sector (+193.60 pts), Technology and Communication sector (+61.19 pts) and Cement sector (+35.21 pts). Company-wise, Pakistan Oilfields Limited (POL +41.25 pts), Meezan Bank Limited (MEBL +33.99 pts) and Systems Limited (SYS +29.74 pts), were top points contributors.

The Refinery sector gained 3.84% in its cumulative market capitalization. Attock Refinery Limited (ATRL +3.66%), Cynergyico PK Limited (CNERGY +4.03%), National Refinery Limited (NRL +3.31%) and Pakistan Refinery Limited (PRL +4.51%), all closed in green.

Values as at 05:14 PM