DAILY MARKET WRAP

Bulls of the Pakistan Stock Exchange (PSX) continued to shine on Thursday taking the benchmark KSE 100 index to record highs. Indices accumulated gains from the word go, while volume expanded compared to prior session.

Worldwide equity markets showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.16% to $81.31. While Brent crude oil price was down by 0.15% at $84.95. (as at 3:59 PM PST, Source: Invetsing.com).

Gaining 754.34 pts, the benchmark KSE 100 index climbed to intraday high of 81,909.95. It closed the session higher by 684.25 pts at 81,839.86. The KMI 30 index jumped by 1,379.15 pts ending the day at 130,381.02. While the KSE All share index grew by 299.38 pts to close the day at 51,773.29.

Investor activity rose from 439.85 mn shares the in the last session to 470.07 mn shares. Toppers of the volume chart included, Pak Elektron Limited (PAEL +5.41%), PIA Holding Company Limited (PIAHCLA +1.26%) and Pakistan Telecommunication Company Limited (PTC +5.30%). The scrips had 47.99 mn shares, 25.36 mn shares and 25.03 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 index higher included, Fertilizer sector (+170.71 pts), Oil and Gas Exploration sector (+159.33 pts) and Banking sector (+109.31 pts). Company-wise, Engro Corporation Limited (ENGRO +120.27 pts), United Bank Limited (UBL +106.31 pts) and Oil and Gas Development Company Limited (OGDC +82.15 pts), were top points contributors.

The Technology and Communication sector gained 2.40% in its cumulative market capitalization. Systems Limited (SYS +0.43%), Pakistan Telecommunication Company Limited (PTC +5.61%), TRG Pakistan Limited (TRG +4.73%) and Air Link Communication (AIRLINK +0.85%), all closed in green.

Values as at 04:14 PM