DAILY MARKET WRAP

Bulls took charge of the Pakistan Stock Exchange (PSX) on Friday. Indices traded in green from the word go! Volume also surged compared to previous session. Analysts attributed the bull run to hopes of a decrease in interest rates in the upcoming financial year.

Global equity markets showed mixed trend. Crude oil prices north, with WTI crude oil rising by 0.68% to $79.80 while Brent crude oil was up by 0.55% to $84.34. (As at 4:55 PM PST, Source: Investing.com).

The benchmark KSE 100 index gained 1.65% WoW. During the session, it jumped to record high of 73,449.38 gaining 791.32 pts. It closed the session higher by 427.45 pts at 73,085.50. The KMI 30 index appreciated by 479.52 pts closing the day at 121,447.49. While the KSE All share index grew by 274.33 pts concluding the day at 47,546.55.

Investor activity went up from 674.70 mn shares in the previous session to 740.96 mn shares. Worldcall Telecom Limited (WTL +2.65%), Pak Elektron Limited (PAEL -3.29%) and Hum Network Limited (HUMNL +5.19%) led the volume chart. The scrips had 85.72 mn shares, 51.46 mn shares and 33.65 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index to victory included, Cement sector (+219.68 pts), Textile Composite sector (+49.12 pts) and Oil and Gas Marketing sector (+38.50 pts). Company-wise, Lucky Cement Limited (LUCK +73.07 pts), D.G. Khan Cement Company Limited (DGKC +39.04 pts) and Pioneer Cement Limited (PIOC +37.45 pts), were top points contributors.

The Oil and Gas Marketing sector gained 1.63% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO +1.89%), Sui Northern Gas Pipelines Limited (SNGP +2.53%), Attock Petroleum Limited (APL +0.05%) and Sui Southern Gas Company Limited (SSGC +1.07%), all closed in green.

Values as at 05:13 PM