DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) continued to move uphill on Tuesday. Indices traded in green all day long while volume rose compared to previous session. According to analysts, the bullish momentum was driven by positive developments regarding the energy sector's circular debt and heightened pre-election purchasing.

Worldwide equity markets displayed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.15% to $72.89. While Brent crude oil price was up by 0.22% to $78.16. (As at 3:50 PM PST, Source: Investing.com).

Gathering 882.18 pts, the benchmark KSE 100 index soared to day’s high of 63,885.10. It closed the day higher by 796.10 pts or 1.26% at 63,799.02. The KMI 30 index gathered 1,725.33 pts ending the session at 108,088.48. While the KSE All share index inched up by 570.68 pts closing at 43,147.97.

Overall market volume appreciated from 263.36 mn shares in the last session to 330.79 mn shares. Out of the total scrips traded 50.78% belonged to KSE 100 scrips. Pakistan International Airlines Limited (PIAA -0.91%) led the volume chart with 47.06 mn shares traded. Next in line were, Oil and Gas Development Company Limited (OGDC +5.40%) and Cynergyico PK Limited (CNERGY +4.01%). The scrips had 23.12 mn shares and 21.27 mn shares exchanged, respectively.

Sectors painting the benchmark KSE 100 index in green included Oil and Gas Exploration sector (+328.02 pts), Banking sector (+162.54 pts) and Cement sector (+53.76 pts). Company-wise, Oil and Gas Development Company Limited (OGDC +156.40 pts), Pakistan Petroleum Limited (PPL +122.32 pts) and Mari Petroleum Company Limited (MARI +63.08 pts), were top points contributors.

The Oil and Gas Exploration sector gained 3.74% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +5.69%), Pakistan Petroleum Limited (PPL +5.39%) and Mari Petroleum Company Limited (MARI +3.85%), all closed in green.

Values as at 04:13 PM