DAILY MARKET WRAP

Investors of the Pakistan Stock Exchange (PSX) showed high levels of enthusiasm on Tuesday in light of the State Bank's decision to maintain the policy rate. The market experienced sustained optimism throughout the day, with trading volume surpassing that of previous session.

Equity markets worldwide showed positive trend. Crude oil prices moved south with WTI crude oil price falling by 0.23% to $81.97. While Brent crude oil price was down by 0.26% to $86.66. (As at 1:40 PM PST, Source: Investing.com).

Bulls propelled the benchmark KSE 100 index to day’s peak of 65,624.73, marking an increase of 734.22 pts. The index concluded the session in positive territory, rising by 612.09 pts to settle at 65,502.60. Additionally, the KMI 30 index surged by 612.96 pts, concluding the day at 110,716.93. While the KSE All Share index expanded by 367.21 pts closing at 43,528.88.

Overall volume went up from 211.47 mn shares the last session to 322.80 mn shares. Out of the total scrips traded 50.25% belonged to KSE 100 scrips. Topping the volume chart with 27.82 mn shares exchanged was Worldcall Telecom Limited (WTL +1.47%). Followed by Telecard Limited (TELE +2.56%) and The Bank of Punjab Limited (BOP -1.45 %). The scrips had 20.83 mn shares and 17.91 mn shares traded respectively.

Sectors painting the benchmark KSE 100 index in green included, Banking sector (+267.72 pts), Fertilizer sector (+98.35 pts) and Investment Banking sector (+90.62 pts). Company-wise, Dawood Hercules Corporation Limited (DAWH +94.21 pts), MCB Bank Limited (MCB +74.32 pts) and Meezan Bank Limited (MEBL +68.81 pts), were top points contributors.

The Fertilizer sector gained 1.12% in its cumulative market capitalization. Engro Corporation Limited (ENGRO +0.94%), Engro Fertilizer’s Limited (EFERT +1.03%), Fauji Fertilizer Company Limited (FFC +1.38%) and Fatima Fertilizer Company Limited (FATIMA +0.88%), all closed in green.

Values as at 02:10 PM