DAILY MARKET WRAP

Bulls of the Pakistan Stock Exchange (PSX) came back roaring on last trading session before Eid. Indices accumulated gains all day long, while volumes appreciated from last close. Equity markets around the globe showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 2.13% to $77.55. While Brent crude oil price was down by 2.02% to $81.44. (As at 2:28 PM PST, Source: Investing.com).

On the economic front, as per data released by the Pakistan Bureau of Statistics (PBS), the sensitive price indicator (SPI) for the week ended on 19th April, 2023 recorded an increase of 0.51%. On YoY basis, an increase of 47.23% was reported.

Gathering 587.33 pts, the benchmark KSE 100 index recorded intraday high of 41,086.67. It settled higher by 508.48 pts closing at 41,007.82. The KMI 30 index jumped up by 1,088.45 pts closing at 71,618.44. While the KSE All share index surged up by 257.20 pts settling at 26,980.67.

Overall market volumes appreciated from 84.11 mn shares in the previous session to 172.71 mn shares. Whereas total traded value increased from Rs.3.63 bn on Wednesday to Rs.5.71 bn. Highest contributors to the volume chart were Worldcall Telecom Limited (WTL -0.87%), Fauji Foods Limited (FFL +14.26%) and Pakistan Refinery Limited (PRL +7.73%). The scrips had 22.20 mn shares, 21.93 mn shares and 11.54 mn shares traded, respectively. Out of the total scrips traded 188 advanced, 101 declined and 257 remained unchanged.

Sectors lifting the benchmark KSE 100 higher included, Banking sector (169.84), Fertilizer sector (150.73 pts), and Investment Banking sector (68.26 pts). Company-wise, Engro Corporation Limited (ENGRO 133.32 pts), Dawood Hercules Corporation Limited (DAWH 64.85 pts) and Bank AL Habib Limited (BAHL 62.13 pts), were top points contributors.

The Fertilizer sector gained 2.49% in its cumulative market capitalization. Engro Corporation Limited (ENGRO 5.79%), Fauji Fertilizer Company Limited (FFC 0.62%), Engro Fertilizer Limited (EFERT 0.52%) and Fauji Fertilizer Bin Qasim Limited (FCCL 0.87%), all closed positive.

Trading shall remain suspended from April 21 till April 25, 2023 on account of Eid-ul-Fitr Holidays. From everyone at Capital Stake wishing you and your family a very happy Eid.

Values as at 02:28 PM PST