DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) continued to experience a bullish run-on Thursday. Indices posted gains right from the start, while volumes continued to surge. According to analysts, the positive trend was driven by the continuous rise of the Pakistani Rupee.

Equity markets around the globe showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 2.08% to $82.47. While Brent crude oil price was down by 1.91% to $84.17. (As at 3:58 PM PST, Source: Investing.com).

Gaining 404.73 pts, the benchmark KSE 100 index soared to day’s high of 47,484.56. It settled higher by 372.55 pts at 47,452.38. The KMI 30 index jumped by 600.85 pts ending the session at 79,688.54. While the KSE All share index rose by 231.59 pts concluding the session at 31,817.27.

Overall market volume appreciated from 330.17 mn shares in the previous session to 462.54 mn shares. Worldcall Telecom Limited (WTL +0.00%) witnessed highest participation for the fourth consecutive session with 190.16 mn shares traded. Its contribution to the market volume decreased slightly from 46% to nearly 41% on Thursday. Next in line were K-Electric Limited (KEL +12.18%) and Maple Leaf Cement Factory Limited (MLCF +6.91%). The scrips had 52.23 mn shares and 21.31 mn shares exchanged, respectively.

Sectors driving the benchmark KSE 100 index into the green zone included, Cement sector (+153.84 pts), Banking sector (+65.82 pts) and Fertilizer sector (+58.07 pts). Company-wise, Lucky Cement Limited (LUCK +35.59 pts), Engro Fertilizers Limited (EFERT +29.22 pts) and Maple Leaf Cement Factory Limited (MLCF +26.83 pts), were top points contributors.

The Fertilizer sector gained +1.11% in its cumulative market capitalization. Engro Corporation Limited (ENGRO +0.50%), Fauji Fertilizer Company Limited (FFC +0.96%), Engro Fertilizers Limited (EFERT +2.27%) and Fauji Fertilizer Bin Qasim Limited (FFBL +2.91%), all closed positive.

Values as at 04:07 PM PST