DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) wrapped up the week with extraordinary gains, breaking all prior records in the process. The benchmark KSE 100 index surged by 2.33% in a single day, closing above the 66,000-mark. Indices maintained positive momentum throughout the session. Volumes remained relatively stable compared to previous session. The influx of domestic liquidity was cited by analysts as the key contributor to the upward trend in the market.

Over the past week, the benchmark KSE 100 index exhibited a significant rise of 7.35%. During the session, bulls led the index to day’s high of 66,273.73 with an addition of 1,555.65 pts or 2.40%. It concluded the week higher by 1,505.55 pts at 66,223.63. The KMI 30 index surged by 1,551.44 pts finishing off the week at 111,194.57. While the KSE All Share index ballooned by 847.45 pts ending the session at 43,881.53.

Total volume was recorded at 1.33 bn compared to 1.32 bn shares in the previous session. Total traded value stood at Rs.33.35 bn on Friday. K-Electric Limited (KEL +11.59%), Worldcall Telecom Limited (WTL +3.09%) and Pakistan Telecommunication Company Limited (PTC +10.67%), were volume leaders of the session. The scrips had 342.54 mn shares, 98.56 mn shares and 58.74 mn shares exchanged, respectively.

Sectors painting the benchmark KSE 100 index in green included Banking sector (+695.74 pts), Fertilizer sector (+183.92 pts) and Oil and Gas Exploration sector (+181.04 pts). Company-wise, MCB Bank Limited (MCB +166.44 pts), Habib Bank Limited (HBL +150.02 pts) and Bank Al Habib Limited (BAHL +105.17 pts), were top points contributors.

The Banking sector gained 4.38% in its cumulative market capitalization. Meezan Bank Limited (MEBL +0.62%), MCB Bank Limited (MCB +7.50%), Habib Bank Limited (HBL +6.96%) and United Bank Limited (UBL +3.73%) all closed in green.

Values as at 05:12 PM PST