DAILY MARKET WRAP

Investors on the Pakistan Stock Exchange (PSX) remained optimistic on Tuesday as the benchmark KSE 100 index set a new record, surpassing the psychological barrier of 81,000 pts intraday. Throughout the day, the indices showed strong performance in green territory, with trading volume more than doubling compared to previous session. Analysts attributed these positive sentiments to expectations of reaching a staff-level agreement with the IMF.

Global equity markets showed mixed trend. Crude oil prices moved south, with WTI crude oil falling by 0.41% to $81.99. While Brent crude oil was down by 0.34% to $85.46. (As at 3:53 PM PST, Source: Investing.com).

Losing 35.35 pts, the benchmark KSE 100 index fell to day’s low of 80,530.86. It then gained 521.22 pts reaching day’s high of 81,087.43. The index closed the session higher by 105.86 pts at 80,672.06. The KMI 30 index appreciated by 217.31 pts to end the day at 128,510.32. While the KSE All share index grew by 311.93 pts to close at 51,481.26.

Investor activity swelled from 261.53 mn shares the in the last session to 610.08 mn shares. Hum Network Limited (HUMNL +3.81%), The Bank of Punjab (BOP +2.42%) and Worldcall Telecom Limited (WTL -1.59%) dominated the volume chart. The scrips had 51.03 mn shares, 43.34 mn shares and 40.77 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index forward included, Fertilizer sector (+117.22 pts), Cement sector (+40.00 pts) and Textile Composite sector (+33.99 pts). Company-wise, Fauji Fertilizer Company Limited (FFC +74.34 pts), Pakistan Oilfields Limited (POL +35.72 pts) and Interloop Limited (ILP +28.38 pts), were top points contributors.

The Fertilizer sector gained 1.11% in its cumulative market capitalization. Fauji Fertilizer Bin Qasim Limited (FFBL +5.21%), Engro Fertilizer’s Limited (EFERT +0.91%), Fauji Fertilizer Company Limited (FFC +2.00%), all closed in green.

Values as at 04:15 PM