DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) brought joy to investors yet again as it concluded the week on a high note. The benchmark KSE 100 index soared past the 59,000-point threshold, setting a record high. Market indices sustained the upward trend of previous two days. While volume witnessed a minor dip compared to previous session.

On the economic front, as per data released by the State Bank of Pakistan, the Pakistani Rupee lost PKR 0.1062 (0.04%) against the US Dollar on DoD basis ending the session at PKR 285.3713/US$.

Over the past week, the benchmark KSE 100 index posted an impressive gain of 3.55%. During the session, the index gathered 602.44 pts recording intraday high of 59,502.28, only 500 pts shy of the 60,000-mark. It settled higher by 186.51 pts at 59,086.35. The KMI 30 index shed 180.28 pts ending at 100,002.25. While the KSE All share index was up by 85.29 pts concluding the day at 39,559.21.

Overall market volume dropped from 668.13 mn shares in the last session to 656.58 mn shares. Worldcall Telecom Limited (WTL -3.70%) maintained its position as volume leader all week long, ending the session on Friday with 66.77 mn shares exchanged. Next in line were, Pakistan International Bulk Terminal Limited (PIBTL +2.51%) and TPL Properties Limited (TPLP +2.34%). The scrips had 38.84 mn shares and 27.40 mn shares exchanged, respectively.

Sectors leading the benchmark KSE 100 index to new heights included, Banking sector (+107.76 pts), Oil and Gas Exploration sector (+35.10 pts) and Miscellaneous sector (+34.04 pts). Company-wise, Habib Bank Limited (HBL +60.25 pts), Systems Limited (SYS +32.48 pts), and MCB Bank Limited (MCB +30.92 pts), were top points contributors.

The Technology and Communication sector gained 0.46% in its cumulative market capitalization. Systems Limited (SYS +1.93%), Air Link Communication Limited (AIRLINK +0.80%), Avanceon Limited (AVN +0.91%) and Netsol Technologies Limited (NETSOL +0.73%), all closed in green.

Values as at 05:08 PM PST