DAILY MARKET WRAP

Recovering losses from previous session, the Pakistan Stock Exchange (PSX) ended the session on Tuesday in green. Indices accumulated gains all day long while volume depreciated compared to previous session. As per analysts, expectations of a decrease in policy rate fueled optimistic sentiments.

Worldwide equity markets showed positive trend. Crude oil prices moved south with WTI crude oil price falling by 0.28% to $78.39. While Brent crude oil price was down by 0.32% at $82.40. (as at 3:58 PM PST, Source: Invetsing.com).

Clenching 1,046.15 pts, the benchmark KSE 100 index climbed to day’s high of 79,585.34. It closed the session higher by 447.90 pts at 78,987.09. The KMI 30 index increased by 957.97 pts closing the day at 126,096.18. While the KSE All share index was up by 268.24 pts to finish the day at 50,135.58.

Investor activity dropped from 375.23 mn shares the in the last session to 315.94 mn shares. PIA Holding Company Limited (PIAHCLA -8.17%), Pak Elektron Limited (PAEL -1.24%) and Worldcall Telecom Limited (WTL -0.85%), led the volume chart. The scrips had 22.08 mn shares, 19.79 mn shares and 19.52 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index north included, Oil and Gas Exploration sector (+111.91 pts), Power Generation and Distribution sector (+89.49 pts) and Fertilizer sector (+68.40 pts). Company-wise, The Hub Power Company Limited (HUBC +88.68 pts), Oil and Gas Development Company Limited (OGDC +43.49 pts) and Mari Petroleum Company Limited (MARI +39.60 pts), were top points contributors.

The Power Generation and Distribution sector gained 1.41% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +1.92%), K-Elektric Limited (KEL +1.81%), Nishat Power Limited (NPL +0.46%) and Pakgen Power Limited (PKGP +0.08%), all closed in green.

Values as at 04:12 PM