DAILY MARKET WRAP

Bulls took charge of the Pakistan Stock Exchange (PSX) on Friday. Indices moved north for almost the entire session while the volume appreciated compared to previous day.

Global equity markets showed mixed results. Crude oil prices moved south with WTI crude oil falling by -0.30% to $76.08, and Brent crude oil declining by -0.30% to $79.28 (as of 4:49 PM PST, source: Investing.com).

The benchmark KSE 100 index gained 0.25% WoW. During the session, it jumped to day’s high of 78,434.17 gaining 693.86 pts. The index closed the session higher by 485.68 pts at 78,225.98. The KMI 30 index grew by 1,045.54 pts ending the day at 123,759.37. While the KSE All share index appreciated by 389.53 pts to finish the week at 49,751.28.

Investor activity rose from 278.65 mn shares in the previous session to 443.32 mn shares. Top contributors to the volume chart were, Cnergyico Pk Limited (CNERGY +15.94%), The Organic Meat Company Limited (TOMCL +9.84%), and Pak Elektron Limited (PAEL +4.40%), with 66.99 mn, 18.62 mn, and 17.31 mn shares traded respectively.

Sectors adding gains to the benchmark KSE 100 index included, Power Generation and Distribution sector (+103.40 pts), Oil and Gas Exploration sector (+95.56 pts) and Refinery sector (+88.73 pts). Company-wise, The Hub Power Company Limited (HUBC +79.45 pts), Habib Bank Limited (HBL +49.03 pts) and United Bank Limited (UBL +47.28 pts), drove the index north.

The Refinery sector gained 10.67% in its cumulative market capitalization. Attock Refinery Limited (ATRL +8.88%), Cynergyico PK Limited (CNERGY +15.94%), National Refinery Limited (NRL +10.00%) and Pakistan Refinery Limited (PRL +10.02%), all closed in green.

Values as at 05:12 PM