DAILY MARKET WRAP

Bulls of the Pakistan Stock exchange (PSX) pulled through on last trading session of the week. Indices traded in green for most part of the day while volumes shrank from last close. As per analysts, the Pakistani rupee’s recovery played a major role in regaining investors’ confidence.

Equity markets around the globe showed negative trend. Crude oil prices moved north with WTI crude oil price rising by 0.79% to $87.56. While Brent crude oil price was up by 0.83% to $90.67 (As at 4:59 PM PST, Source: Investing.com).

On the economic front, as per data released by the State Bank of Pakistan (SBP), Pakistan's liquid foreign exchange reserves went down by US$ 44mn WoW. Net reserves with the State Bank fell by US$70 mn on weekly basis. While net reserves with banks inched up by US$26 mn.

The benchmark KSE 100 index gained 1.55% WoW. During the day, it swung between intraday low of 45,728.89 (losing 28.34 pts) and intraday high of 46,077.39 (gaining 320.15 pts). The index settled higher by 256.25 pts at 46,013.49. The KMI 30 index grew by 619.41 pts ending the week at 77,127.90. While the KSE All share index climbed up by 188.71 pts closing at 30,697.96.

Market volumes decreased from 176.74 mn shares in the previous session to 148.94 mn shares. TPL Properties (TPLP +1.03%) witnessed highest market volumes with 11.95 mn shares traded. Followed by Worldcall Telecom Limited (WTL +1.74%) with 11.04 mn shares exchanged and Bank Alfalah Limited (BAFL +5.40%) with 9.27 mn shares traded.

Sectors leading the benchmark KSE 100 index to victory included Banking sector (+101.87 pts), Technology and Communication sector (+39.83 pts) and Oil and Gas Exploration sector (+30.91 pts). Company-wise Pakistan Petroleum Limited (PPL +38.97 pts), Bank Alfalah Limited (BAFL +37.90 pts) and Meezan Bank Limited (MEBL +36.91 pts), drove the index north.

The Power Generation and Distribution sector gained 1.08% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +1.69%), Pakgen Power Limited (PKGP +0.69%), Nishat Power Limited (NPL +5.10%), all closed positive.

Values as at 05:07 PM PST