DAILY MARKET WRAP

Extending rally from the previous day, the Pakistan Stock Exchange (PSX) closed the session on Thursday in green. Indices accumulated gains all day long while volumes surged from last close. As per analysts, hopes of recovery of IMF programme, start of the earnings season and anticipation of economic aid from United States, United Arab Emirates and Saudi Arabia improved investors confidence.

Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil prices rising by 0.79% to $80.76. While Brent crude oil price was up by 0.70% to $86.72. (As at 3:56 PM PST, Source: Investing.com).

On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani rupee lost PKR 24.5349/USD (10.63%) against the US Dollar on DoD basis ending the session at PKR 255.4295/US$.

Gaining 1,209.79 pts, the benchmark KSE 100 index recorded intraday high of 40,994.69. The index settled higher by 1,061.63 pts settling at 40,846.53. The KMI 30 index gained 1,651.27 pts closing at 64,821.48. While the KSE All share index surged by 495.46 pts settling at 27,186.40.

Overall market volumes surged from 269.23 mn shares in the previous session to 362.92 mn shares. Cnergyico PK Limited (CNERGY 6.92%), TPL Properties Limited (TPLP +2.50%) and Worldcall Telecom Limited (WTL +0.84%) showed highest contribution to the volume chart. The scrips had 44.55 mn shares, 20.05 mn shares and 14.03 mn shares traded respectively.

Sectors lifting the benchmark KSE 100 index higher included Banking sector (353.87 pts), Fertilizer sector (230.07 pts) and Cement sector (97.46 pts). Company-wise Habib Bank Limited (HBL 98.62 pts), Engro Corporation Limited (ENGRO 88.39 pts) and Fauji Fertilizer Company Limited (FFC 85.60 pts), were top points contributors.

The Refinery sector gained 6.67% in its cumulative market capitalization. Cnergyico PK Limited (CNERGY 6.92%), Attock Refinery Limited (ATRL 7.50%), National Refinery Limited (NRL 4.41%) and Pakistan Refinery Limited (PRL 7.90%), all closed positive.

Values as at 04:09 PM PST