DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) managed to recover losses from previous session on Monday, ending the day in green. Throughout the trading day, indices steadily accumulated gains, with trading volume also showing a slight increase compared to previous session.

Equity markets worldwide showed negative trend. Crude oil prices moved north with WTI crude oil price rising by 0.16% to $80.76. While Brent crude oil price was up by 0.17% to $84.97. (As at 1:49 PM PST, Source: Investing.com).

Gaining 504.67 pts, the benchmark KSE 100 index stretched to day’s high of 65,656.50. It closed the day higher by 373.82 pts at 65,525.65. The KMI 30 index also performed well, appreciating by 811.26 pts, concluding the day at 110,044.87. While the KSE All share index grew by 192.25 pts closing the day at 43,433.03.

Market volume expanded from 208.37 mn shares in the previous session to 261.02 mn shares. Top contributors to the volume chart were Pakistan Telecommunication Company Limited (PTC +7.17%), Hascol Petroleum Limited (HASCOL +7.16%), K-Electric Limited (KEL +4.34%). The scrips had 27.18 mn shares, 21.38 mn shares and 20.91 mn shares traded, respectively.

Sectors contributing positively to the benchmark KSE 100 index included, Oil and Gas Exploration sector (+114.51 pts), Banking sector (+98.36 pts) and Power Generation and Distribution sector (+93.26 pts). Company-wise, The Hub Power Company Limited (HUBC +77.81 pts), Oil and Gas Development Company Limited (OGDC +68.93 pts) and National Bank Pakistan (NBP +43.75 pts), led the index to victory.

The Oil and Gas Exploration sector gained 1.36% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +2.90%), Pakistan Petroleum Limited (PPL +1.66%), Mari Petroleum Company Limited (MARI +0.01%) and Pakistan Oilfields Limited (POL +0.49%), all closed in green.

Values as at 02:15 PM