- Pulse by Capital Stake
- Posts
- DAILY MARKET WRAP
DAILY MARKET WRAP
PSX Starts Week With a Bang!
The Pakistan Stock Exchange (PSX) surged to record highs on Monday, with indices experiencing immediate gains as trading commenced. Market volume notably expanded in comparison to preceding session. Analysts attributed the upward trajectory to a favorable beginning to the result season and promising advancements in discussions with the International Monetary Fund (IMF).
Equity markets worldwide showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.43% to $81.87. While Brent crude oil price was down by 0.44% to $86.91. (As at 3:57 PM PST, Source: Investing.com).
The benchmark KSE 100 index dipped slightly into the red zone recording day’s low of 70,882.45 losing 27.46 pts. It then rose by a healthy 1.34% gaining 951.28 pts and recording day’s high of 71,861.18. It closed the session higher by 523.56 pts at 71,433.46. The KMI 30 index grew by 1,025.29 pts closing at 119,598.02. While the KSE All share index increased by 417.42 pts ending the day at 46,964.65.
Investor participation swelled from 475.63 mn shares in the previous session to 655.02 mn shares. Out of the total scrips traded 55.02% belonged to KSE 100 scrips. Toppers of the volume chart were, Habib Bank Limited (HBL -0.48%), Pakistan Refinery Limited (PRL -4.62%) and Pak Elektron Limited (PAEL +4.41%). The scrips had 48.15 mn shares, 30.50 mn shares and 29.56 mn shares traded, respectively.
Sectors driving the benchmark KSE 100 index towards the green zone included, Oil and Gas Exploration sector (+146.72 pts), Banking sector (+122.85 pts) and Fertilizer sector (+117.12 pts). Company-wise, Mari Petroleum Company Limited (MARI +111.63 pts), United Bank Limited (UBL +78.87 pts) and Engro Fertilizers Limited (EFERT +74.76 pts), added gains to the index.
The Cement sector gained 2.00% in its cumulative market capitalization. Lucky Cement Limited (LUCK +2.25%), Bestway Cement Limited (BWCL +1.69%), Kohat Cement Company Limited (KOHC +0.16%) and Fauji Cement Company Limited (FCCL +0.70%), all closed in green.
Values as at 04:14 PM