DAILY MARKET WRAP

Bull run continued at the Pakistan Stock Exchange (PSX) on Wednesday. Indices traded in green all day long while volume rose in contrast to previous session. As per analysts, positive sentiments dominated the market following the announcement of a staff-level agreement between Pakistan and the IMF.

Equity markets worldwide showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.91% to $81.98. While Brent crude oil price was down by 0.81% to $86.67. (As at 1:59 PM PST, Source: Investing.com).

The benchmark KSE 100 index gained 465.43 stretching to day’s high of 65,968.03. It closed the session higher by 229.20 pts at 65,731.79. the KMI 30 index slipped by 127.94 pts ending the session at 110,589.00. While the KSE All share index was up by 165.71 pts closing the day at 43,694.59.

Overall volume inched up from 322.80 mn shares the last session to 341.46 mn shares. The Bank of Punjab (BOP +2.72%) led the volume chart with 45.01 mn shares traded. Followed by Worldcall Telecom Limited (WTL -1.45%) and The Organic Meat Company Limited (TOMCL -1.93%). The scrips had 34.43 mn shares and 18.00 mn shares traded respectively.

Sectors driving the benchmark KSE 100 index into the green zone included, Investment Banking sector (+101.97 pts), Fertilizer sector (+76.82 pts) and Banking sector (+36.41 pts). Company-wise, Dawood Hercules Corporation Limited (DAWH +102.42 pts), Fauji Fertilizer Company Limited (FFC +48.39 pts) and National Bank of Pakistan (NBP +29.34 pts), were top points contributors.

The Banking sector gained 0.23% in its cumulative market capitalization. Meezan Bank Limited (MEBL +1.24%), MCB Bank Limited (MCB +0.54%), Allied Bank Limited (ABL +0.34%) and Bank Al Falah Limited (BAFL +1.04%), all closed in positive territory.

Values as at 02:08 PM