DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) commenced the week with a positive start. Indices initially fell into the red zone but regained momentum, eventually closing in green. Volumes decreased from the previous trading session.

Global equity markets displayed positive trend, and crude oil prices saw an increase, with WTI crude oil rising by 3.79% to $85.93 and Brent crude oil was up by 3.62% to $87.64 (As at 3:57 PM PST, Source: Investing.com).

The benchmark KSE 100 index recorded an intraday low of 47,217.74 during early hours trade falling by 275.83 pts. Bulls then drove the index to day’s high of 47,775.73 (up by 282.16 pts). The index ultimately settled with an increase of 228.23 pts at 47,721.80. The KMI 30 index saw a gain of 406.28 pts, closing at 80,384.52. While the KSE All Share index surged by 57.71 pts concluding the session at 31,890.57.

Overall market volume decreased from 246.08 mn shares in the previous session to 233.27 mn shares. K-Electric Limited (KEL +0.44%), Worldcall Telecom Limited (WTL -3.73%) and Pakistan International Airlines Corp (PIAA +5.58%), witnessed highest market volumes. The scrips had 38.56 mn shares and 25.22 mn shares and 12.36 mn shares traded, respectively.

Sectors that drove the benchmark KSE 100 index upwards included Banking sector (+84.06 pts), Power Generation and Distribution sector (+71.37 pts) and Fertilizer sector (+70.59 pts). Among companies, The Hub Power Company Limited (HUBC +66.89 pts), Fauji Fertilizer Company Limited (FFC +49.26 pts) and Bank Al Habib Limited (BAHL +40.21 pts), led the index north.

The Refinery sector witnessed a cumulative market capitalization increase of +1.16%. Notable companies in this sector such as Attock Refinery Limited (ATRL +2.14%), National Refinery Limited (NRL +1.24%) and Pakistan Refinery Limited (PRL +0.45%), all closed with positive gains.

Values as at 04:06 PM PST