DAILY MARKET WRAP

Bulls of the Pakistan Stock Exchange (PSX) maintained their strong performance, propelling the benchmark KSE 100 index past the 75,000-mark. Indices traded in green for most part of the day, though trading volume saw a slight decline compared to the previous session.

Global equity markets showed mixed trend. Crude oil prices moved north, with WTI crude oil rising by 0.21% to $77.86. While Brent crude oil was up by 0.19% to $82.22. (As at 3:58 PM PST, Source: Investing.com).

Accumulating 584.14pts, the benchmark KSE 100 index climbed to day’s high of 75,115.33. It then dipped into the red zone, losing 90.31 pts to record a day's low of 74,440.88. The index closed the session higher by 132.79 pts at 74,663.98. The KMI 30 index fell by 32.05 pts ending the session at 123,886.58. While the KSE All share index grew by 152.25 pts ending the day at 48,463.97.

Investor activity went down from 574.01 mn shares in the previous session to 571.70 mn shares. The Searle Company Limited (SEARLE -3.84%), Hum Network Limited (HUMNL +3.54%) and Worldcall Telecom Limited (WTL -2.78%) dominated the volume chart. The scrips had 41.14 mn shares, 35.68 mn shares and 32.67 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index included, Banking sector (+369.88 pts), Automobile Parts and Accessories sector (+34.47 pts) and Food and Personal Care Products sector (+21.70 pts). Top three companies driving the index upward were all from the Banking sector namely, Bank Al Habib Limited (BAHL +103.01 pts), United Bank Limited (UBL +93.04 pts) and Meezan Bank Limited (MEBL +70.69 pts).

The Banking sector gained 2.03% in its cumulative market capitalization. Meezan Bank Limited (MEBL +2.29%), United Bank Limited (UBL +2.99%), MCB Bank Limited (MCB +1.67%) and Standard Chartered Bank (Pak) Limited (SCBPL +2.18%), all closed in green.

Values as at 04:14 PM