DAILY MARKET WRAP

Bulls maintained their dominance over the Pakistan Stock Exchange (PSX) on Thursday, driving indices into positive territory throughout the trading day. Volume decreased in contrast to previous session. Analysts suggest that the market's resilience is tied to improved political clarity.

Worldwide equity markets displayed negative trend. Crude oil prices moved south with WTI crude oil price falling by 0.08% to $78.48. While Brent crude oil price was down by 0.26% to $81.94. (As at 3:49 PM PST, Source: Investing.com).

Gathering 1,098.19 pts, the benchmark KSE 100 index climbed to day’s high of 64,801.64, moving closer once again to the notable 65,000 milestone. It settled higher by 875.07 pts at 64,578.52. The KMI 30 index skyrocketed by 1,972.97 pts ending at 108,852.28. While The KSE All share index jumped by 387.81 pts ending the day at 387.81.

Investor participation contracted from 461.25 mn shares in the last session to 423.95 mn shares. K-Electric Limited (KEL +2.30%), Hascol Petroleum Limited (HASCOL +0.38%) and Kohinoor Spinning Mills Limited (KOSM +0.21 %), dominated the volume chart. The scrips had 54.96 mn shares, 31.87 mn shares and 19.82 mn shares exchanged, respectively.

Sectors painting the benchmark KSE 100 index in green included Banking sector (+251.05 pts), Fertilizer sector (+211.80 pts) and Oil and Gas Exploration sector (+184.49 pts). Company-wise, Engro Fertilizers Limited (EFERT +119.97 pts), Millat Tractors Limited (MTL +111.72 pts) and Pakistan Petroleum Limited (PPL +105.15 pts), were top points contributors.

The Oil and Gas Exploration sector gained 2.24% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +1.73%), Pakistan Petroleum Limited (PPL +5.32%), Mari Petroleum Company Limited (MARI +0.89%) and Pakistan Oilfields Limited (POL +1.51%), all closed in green.

Values as at 04:12 PM