DAILY MARKET WRAP

Positive sentiments continued to surround the Pakistan Stock Exchange (PSX) on Tuesday as the benchmark KSE 100 index closed above the 79,000-mark for the first time in history. Indices accumulated gains all day long while volume appreciated compared to prior session.

Global equity markets showed negative trend. Crude oil prices moved north, with WTI crude oil rising by 0.78% to $84.03. While Brent crude oil was up by 0.73% to $87.23. (As at 3:57 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index clenched 916.02 pts stretching to day’s high of 79,740.35. It settled higher by 728.55 pts at 79,552.89. The KMI 30 index witnessed an increase of 642.91 pts to close the day at 127,364.51. While the KSE All share index grew by 404.65 pts to end the day at 50,407.24.

Investor activity went up from 304.36 mn shares the in the last session to 412.68 mn shares. Toppers of the volume chart were, Worldcall Telecom Limited (WTL +1.60%), K-Elektric Limited (KEL +3.50%), and National Bank of Pakistan (NBP +9.00%). The scrips had 23.80 mn shares, 23.10 mn shares and 20.13 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index forward included, Banking sector (+241.24 pts), Fertilizer sector (+222.63 pts) and Oil and Gas Exploration sector (+75.71 pts). Company-wise, Fauji Fertilizer Company Limited (FFC +159.27 pts), Pakistan Petroleum Limited (PPL +61.67 pts) and National Bank of Pakistan (NBP +55.44 pts), were top points contributors.

The Fertilizer sector gained 2.10% in its cumulative market capitalization. Engro Fertilizers Limited (ENGRO +0.34%), Engro Fertilizer’s Limited (EFERT +0.42%), Fauji Fertilizer Company Limited (FFC +4.37%) and Fatima Fertilizer Company Limited (FATIMA +4.78%), all closed in green.

Values as at 04:15 PM