DAILY MARKET WRAP

Bulls regained control of the Pakistan Stock Exchange (PSX) on Tuesday. Indices traded in green all day long, whereas volumes inched up from last close. Equity markets around the globe showed mixed trend. WTI crude oil price went up by 1.01% to $77.32. While Brent crude oil price was down by 0.25% to $83.86. (As at 3:51 PM PST Source: Investing.com).

On the economic front, as per data released by the State bank of Pakistan (SBP), the Pakistani Rupee lost PKR 0.6299/USD (0.24%) against the US Dollar on DoD basis ending the session at PKR 262.5135/US$.

Clenching 293.07 pts the benchmark KSE 100 index recorded intraday high of 40,966.71. It settled higher by 276.20 pts at 40,949.84. The KMI 30 index jumped up by 566.31 pts closing at 70,750.65. While the KSE All Share index surged by 70.76 pts settling at 20,079.88.

Overall market volumes increased from 92.70 mn shares in last session to 96.13 mn shares. Leading the volume chart was TRG Pakistan Limited (TRG +3.15%) with 12.95 mn shares traded. Followed by Worldcall Telecom (WTL +1.74%) and Hascol Petroleum Limited (HASCOL -0.72%). The scrips had 12.12 mn shares and 3.40 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 index higher included, Technology & Communication sector (88.19 pts), Miscellaneous sector (60.62 pts) and Cement sector (37.44 pts). Company-wise, Pakistan Services Limited (PSEL 59.68 pts), Systems Limited (SYS 44.60 pts) and TRG Pakistan Limited (TRG 35.80 pts), were top points contributors.

The Technology & Communication sector gained 2.13% in its cumulative market capitalization. The Systems Limited (SYS 1.84%), TRG Pakistan Limited (TRG 3.15%) and Pakistan Telecommunication Company Limited (PTC 4.07%) all closed in positive.

Values as at 04:05 PM PST