DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) continued to move north on first trading session of the week. Indices traded in green all day long while volume appreciated compared to previous session. Analysts attributed the positive momentum to heightened investor interest spurred by the impending visit of the IMF delegation.

Global equity markets showed a mixed trend. Crude oil prices moved north, with WTI crude oil rising by 1.11% to $78.98 while Brent crude oil was up by 0.93% to $83.73. (As at 3:56 PM PST, Source: Investing.com).

Clenching 1,158.65 pts, the benchmark KSE 100 index climbed to intraday high of 73,060.74. It closed the session higher by 862.15 pts at 72,764.24 (up by 1.20%). The KMI 30 index appreciated by 848.29 pts closing the day at 122,160.03. While the KSE All share index went up by 431.17 pts ending the session at 47,351.15.

Investor activity ballooned from 448.99 mn shares in the previous session to 578.07 mn shares. Out of the total scrips traded 54.21% belonged to KSE 100 scrips. Pak Elektron Limited (PAEL +7.44%), Fauji Cement Company Limited (FCCL +5.06%) and K-Electric Limited (KEL +1.15%) witnessed highest market volumes. The scrips had 48.44 mn shares, 40.36 mn shares and 26.76 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index included, Fertilizer sector (+144.31 pts), Investment Banking sector (+130.21 pts) and Banking sector (+116.24 pts). Company-wise, Dawood Hercules Corporation Limited (DAWH +120.94 pts) Fauji Fertilizer Company Limited (FFC +86.38 pts) and Engro Corporation Limited (ENGRO +60.49 pts), were top points contributors.

The Power Generation and Distribution sector gained 1.47% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +1.04%), K-Electric Limited (KEL +1.15%), Kot Addu Power Company Limited (KAPCO +7.49%) and Nishat Power Limited (NPL +2.37%), all closed in green.

Values as at 04:14 PM