DAILY MARKET WRAP

Once again, bulls of the Pakistan Stock Exchange (PSX) showcased remarkable performance on Thursday by propelling the benchmark KSE 100 index beyond the significant 67,000 milestone, etching a new chapter in history. Analysts attributed this impressive rally to the advancements in the privatization of Pakistan International Airlines (PIA).

Equity markets worldwide showed positive trend. Crude oil prices moved north with WTI crude oil price rising by 0.28% to $81.58. While Brent crude oil price was up by 0.14% to $85.53. (As at 1:59 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index jumped to day’s high of 67,246.03 gaining 698.24 pts or 1.05%. It closed the session higher by 594.34 pts at 67,142.12. The KMI 30 index went up by 919.55 pts settling at 112,585.17. While the KSE All share index swelled by 395.21 pts concluding the session at 44,470.33.

Investor participation surged from 354.54 mn shares in the previous session to 421.03 mn shares. Total traded value for the day clocked in at Rs. 16.16 bn. Pakistan Telecommunication Company Limited (PTC +6.41%), Lotte Chemical Pakistan Limited (LOTCHEM +0.15%) and Telecard Limited (TELE +0.54%) led the volume chart with 55.72 mn shares, 27.23 mn shares and 25.55 mn shares exchanged respectively.

Sectors lifting the benchmark KSE 100 index higher included, Banking sector (+184.39 pts), Fertilizer sector (+89.90 pts) and Cement sector (+85.95 pts). Company-wise, Bank Al Habib Limited (BAHL +61.62 pts), Engro Corporation Limited (ENGRO +54.49 pts) and MCB Bank Limited (MCB +37.71 pts), were top points contributors.

The Refinery sector gained 2.71% in its cumulative market capitalization. Attock Refinery Limited (ATRL +3.85%), Cynergyico PK Limited (CNERGY +0.89%), National Refinery Limited (NRL +2.13%) and Pakistan Refinery Limited (PRL +2.26%), all closed in green.

Values as at 02:13 PM