DAILY MARKET WRAP

Extending gains from previous session, the Pakistan Stock Exchange (PSX) concluded the session on Tuesday in green. Indices registered gains throughout the day, while trading volumes showed improvement over the previous session. Analysts attributed the market's optimism to the ongoing appreciation of the Pakistani Rupee against the US Dollar.

Equity markets around the globe, showed negative trend. Crude oil prices moved south with WTI crude oil price falling by 0.43% to $88.44. While Brent crude oil price was down by 0.58% to $90.18. (As at 3:56 PM PST, Source: Investing.com).

Accumulating 193.64 pts, the benchmark KSE 100 index stretched to day’s high of 46,820.72. It settled higher by 129.72 pts at 46,756.80. The KMI 30 index grew by 227.53 pts closing at 78,963.89. While the KSE All share index rose by 55.29 pts settling at 31,428.22.

Overall market volume ballooned from 202.07 mn shares in the previous session to 212.63 mn shares. Worldcall Telecom Limited (WTL +0.81%) maintained its position as the top-traded stock with 60.70 mn shares exchanged. Its contribution to the total volume increased from 22% to nearly 30% on Tuesday. Next in line were Cynergyico PK Limited (CNERGY +4.79%) and Oil and Gas Development Company Limited (OGDC -0.81%). The scrips had 19.00 mn shares and 9.01 mn shares exchanged, respectively.

Sectors driving the benchmark KSE 100 index north included, Fertilizer sector (+101.10 pts), Banking sector (+51.41 pts) and Cement sector (+29.86 pts). Company-wise, Engro Fertilizers Limited (EFERT +50.38 pts), Engro Corporation Limited (ENGRO +46.51 pts) and MCB Bank Limited (MCB +30.39 pts), were top points contributors.

The Fertilizer sector gained +1.49% in its cumulative market capitalization. Engro Fertilizers Limited (EFERT +3.13%), Engro Corporation Limited (ENGRO +1.99%) and Fauji Fertilizer Bin Qasim Limited (FFBL +6.38%), all closed positive.

Values as at 04:05 PM PST