DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) achieved a significant milestone on Friday as the benchmark KSE 100 index closed above the 75,000-mark for the first time in history. Indices traded in green throughout the day, while trading volumes increased compared to previous session.

Global equity markets showed positive trend. Crude oil prices moved south, with WTI crude oil falling by 0.25% to $79.03. While Brent crude oil was down by 0.22% to $83.09. (As at 4:44 PM PST, Source: Investing.com).

The benchmark KSE 100 index witnessed an impressive surge of 3.09% WoW. During the session, it jumped to day’s high of 75,401.12 with an addition of 470.42 pts. The index settled higher by 411.65 pts at 75,342.35. The KMI 30 index witnessed an increase of 577.66 pts closing the day at 124,073.60. While the KSE All share index jumped by 232.52 pts ending the session at 48,769.46.

Investor activity appreciated from 407.27 mn shares in the previous session to 496.55 mn shares. Highest volumes were witnessed in Kohinoor Spinning Mills Limited (KOSM +4.08%), Pakistan International Airlines Corp (PIAA -7.21%) and K-Elektric Limited (KEL -0.87%). The scrips had 44.62 mn shares, 28.76 mn shares and 23.06 mn shares traded, respectively. Ratio of advancers to decliner stood at 208 to 151.

Sectors lifting the benchmark KSE 100 index higher included, Fertilizer sector (+86.48 pts), Investment Banking sector (+78.81 pts) and Power Generation and Distribution sector (+63.89 pts). Company-wise, Dawood Hercules Corporation Limited (DAWH +82.03 pts), The Hub Power Company Limited (HUBC +43.04 pts) and Thal Limited (THALL +38.85 pts), added gains to the index.

The Refinery sector gained 2.04% in its cumulative market capitalization. Attock Refinery Limited (ATRL +1.95%), Cynergyico PK Limited (CNERGY +3.17%), National Refinery Limited (NRL +1.18%) and Pakistan Refinery Limited (PRL +2.10%), all closed in green.

Values as at 05:12 PM