DAILY MARKET WRAP

Bull run continued at the Pakistan Stock Exchange (PSX) on Thursday. Indices oscillated between both zones until finally closing in green. Volume dropped compared to prior session. According to analysts, the upward trend was driven by positive economic indicators for the country.

Global equity markets showed positive trend. Crude oil prices moved south, with WTI crude oil falling by 0.41% to $78.31. While Brent crude oil was down by 0.39% to $82.43. (As at 3:51 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index swung between intraday high of 75,029.03 (gaining 365.05 pts) and intraday low of 74,450.26 (losing 213.73 pts). It closed the session higher merely 70 pts away from the 75,000-mark at 74,930.70 with an addition of 266.72 pts. The KMI 30 index went down by 390.64 pts concluding the day at 123,495.94. While the KSE All share index inched up by 72.97 pts ending the day at 48,536.94.

Investor activity lowered from 571.70 mn shares in the previous session to 407.27 mn shares. Pakistan International Airlines Corp (PIAA +4.55%), Pak Elektron Limited (PAEL -1.82%) and Worldcall Telecom Limited (WTL -1.43%), witnessed highest market volumes. The scrips had 34.85 mn shares, 28.54 mn shares and 24.08 mn shares traded, respectively.

Sectors painting the benchmark KSE 100 index in green included, Banking sector (+298.24 pts), Engineering sector (+57.40 pts) and Technology and Communication sector (+26.45 pts). Companies that added gains to the index consisted of, United Bank Limited (UBL +138.24 pts), MCB Bank Limited (MCB +64.42 pts) and Systems Limited (SYS +34.38 pts).

The Technology and Communication sector gained 0.77% in its cumulative market capitalization. Systems Limited (SYS +1.33%), Pakistan Telecommunication Company Limited (PTC +0.07%) and Avanceon Limited (AVN +0.46%), all closed in green.

Values as at 04:12 PM