DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) created a cause for celebration on the last trading day of the week, with investors rejoicing as the bulls drove the benchmark KSE 100 index to an intraday peak of 53,263.07, setting a new historical record. Experts pointed to the absence of political and economic disruptions as a key factor behind this surge.

On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani Rupee lost PKR 1.1727 (0.42%) against the US Dollar on DoD basis ending the session at PKR 282.6465/US$.

The benchmark KSE 100 index recorded an impressive gain of 4.28% on WoW basis. The index clenched 606.31 points rising by 1.15% setting a fresh all-time high of 53,263.07. It settled above the 53,000-mark at 53,123.04 with an addition of 466.27 pts. The KMI 30 index appreciated by 991.67 pts ending the week at 90,323.33. While the KSE All share index grew by 373.09 pts concluding the week at 35,434.61.

Overall market volume also went up from 473.78 mn shares in the previous session to 508.48 mn shares. Kohinoor Spinning Mills (KOSM +13.57) made its way to the top of the volume chart replacing Worldcall Telecom Limited (WTL +0.00%) with 43.17 mn shares traded. Next in line were Pakistan Refinery Limited (PRL +5.01%) and TPL Properties Limited (TPLP +2.14%). The scrips had 41.82 mn shares and 29.06 mn shares exchanged, respectively.

The Banking sector (+128.15 pts), Power Generation and Distribution sector (+76.68 pts) and Oil and Gas Exploration sector (+42.56 pts), led the benchmark KSE 100 index to victory. Company-wise, Meezan Bank Limited (MEBL +21.98 pts), The Hub Power Company Limited (HUBC +79.63 pts) and Lucky Cement Limited (LUCK +33.53 pts), were top points contributors.

The Refinery sector gained 1.24% in its cumulative market capitalization. Attock Refinery Limited (ATRL +6.66%), National Refinery Limited (NRL +6.66%), Cynergyico PK Limited (CNERGY +3.33%) and Pakistan Refinery Limited (PRL +9.99%), all closed positive.

Values as at 05:09 PM PST