DAILY MARKET WRAP

Bulls returned to the Pakistan Stock Exchange (PSX) on Wednesday. Indices accumulated gains all day long while volume appreciated compared to previous session.

Global equity markets showed mixed trend. Crude oil prices moved north, with WTI crude oil rising by 0.89% to $81.55. While Brent crude oil was up by 0.84% to $84.93. (As at 3:57 PM PST, Source: Investing.com).

Accumulating 738.92 pts, the benchmark KSE 100 index reclaimed its grip over the 78,000-mark reaching day’s high of 78,679.50. The index closed the session higher by 335.07 pts at 78,275.65. The KMI 30 index grew by 148.73 pts to end the day at 126,331.94. While the KSE All share index went up by 67.16 pts closing the day at 49,314.22.

Investor activity grew from 291.71 mn shares the in the last session to 465.36 mn shares. Highest participation was witnessed in Worldcall Telecom Limited (WTL -3.13%), K-Elektric Limited (KEL +3.39%) and Pervez Ahmed Consultancy Services Limited (PASL -21.83%). The scrips had 57.65 mn shares, 37.64 mn shares and 31.13 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index included, Fertilizer sector (+252.76 pts), Oil and Gas Exploration sector (+180.48 pts) and Power Generation and Distribution sector (+35.87 pts). Company-wise, Fauji Fertilizer Company Limited (FFC +221.16 pts), Oil and Gas Development Company Limited (OGDC +129.16 pts), Bank Al Habib Limited (BAHL +76.77 pts), were top points contributors.

The Oil and Gas Exploration sector gained 1.92% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +4.87%), Mari Petroleum Company Limited (MARI +0.54%), Pakistan Petroleum Limited (PPL +1.40%) and Pakistan Oilfields Limited (POL +0.43%), all closed in positive territory.

Values as at 04:14 PM