DAILY MARKET WRAP

Bulls regained control of the Pakistan Stock Exchange (PSX) on Friday. Indices traded in green all day long. Volume also surged compared to previous session. As per analysts, investor confidence increased ahead of tomorrow's CPI inflation announcement, with expectations that the inflation rate will drop below 14%.

Global equity markets showed mixed trend. Crude oil prices also showed mixed trend, with WTI crude oil falling by 0.38% to $78.93. While Brent crude oil was down by 0.44% to $83.06. (As at 3:41 PM PST, Source: Investing.com).

The benchmark KSE 100 index lost 0.14% WoW. During the day, it jumped to day’s high of 75,953.74 gaining 1,075.62 pts. The index settled higher by 1,000.35 pts at 75,878.48. The KMI 30 index appreciated by 2,046.33 pts ending the day at 125,779.87. While the KSE All share index grew by 493.68 pts to close the day at 48,828.32.

Investor activity ballooned from 410.45 mn shares in the previous session to 523.15 mn shares. Highest participation was witnessed in K-Elektric Limited (KEL +2.06%), Dewan Cement Limited (DCL -1.09%) and Worldcall Telecom Limited (WTL +0.75%). The scrips had 62.23 mn shares, 31.64 mn shares and 28.53 mn shares traded, respectively.

Sectors painting the benchmark KSE 100 index in green consisted of, Banking sector (+233.38 pts), Technology and Communication sector (+200.32 pts) and Fertilizer sector (+196.96 pts). Company-wise, Systems Limited (SYS +171.65 pts), The Hub Power Company Limited (HUBC +113.64 pts) and MCB Bank Limited (MCB +76.70 pts), led the index north.

The Power Generation and Distribution sector gained 2.10% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +2.63%), Pakgen Power Limited (PKGP +2.58%), K-Electric Limited (KEL +2.06%) and Nishat Power Limited (NPL +1.55%), all closed in green.

Values as at 05:13 PM PST