DAILY MARKET WRAP

Bulls of the Pakistan Stock Exchange (PSX) made a comeback on Wednesday. Indices accumulated gains all day long while volumes appreciated from last close. Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.04% to $81.56. While Brent crude oil price was up by 0.09% to $85.69. (As at 1:52 PM PST, Source: Investing.com).

On economic front, as per data released by State Bank of Pakistan (SBP), the Pakistani Rupee gained PKR 1.8099/US$ (0.63%) against the US Dollar on DoD basis ending the session at PKR 286.6174/US$.

Accumulating 368.05 pts, the benchmark KSE 100 index jumped to day’s high of 40,172.76. It settled higher by 321.34 pts above 40,000 mark at 40,126.05. The KMI 30 index appreciated by 679.30 pts closing at 70,024.67. While the KSE All share index went up by 151.37 pts ending at 26,438.94.

Total traded volume increased from 59.53 mn shares in the previous session to 79.73 mn shares. Highest contributors to the volume chart were K-Electric Limited (KEL +0.00%), Worldcall Telecom Limited (WTL +0.86%) and Pakistan Petroleum Limited (PPL +3.29%). The scrips had 8.38 mn shares, 4.11 mn shares and 3.76 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index forward included, Technology and Communication sector (95.21 pts), Banking sector (81.08 pts) and Oil and Gas Exploration sector (77.52 pts). Company-wise, Systems Limited (SYS 87.25 pts), Pakistan Petroleum Limited (PPL 38.49 pts) and Oil and Gas Development Company Limited (OGDC 31.42 pts), were top points contributors.

The Oil & Gas Exploration sector gained 1.52% in its cumulative market capitalization. Oil & Gas Development Company Limited (OGDC 2.16%), Pakistan Petroleum Limited (PPL 3.29%) and Pakistan Oilfields Limited (POL 1.00%), all closed in green.

Values as at 02:10 PM PST