DAILY MARKET WRAP

Bulls of the Pakistan Stock Exchange (PSX) asserted their dominance on Wednesday. Indices traded in green from the word go while volume decreased slightly compared to previous session. As per analysts, positive market sentiment was a direct outcome of the political scenario becoming clearer.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.53% to $76.63. While Brent crude oil price was down by 0.49% to $81.94. (As at 3:57 PM PST, Source: Investing.com).

Gathering 1,156.61 pts, the benchmark KSE 100 index jumped to day’s high of 61,620.86. It closed the day higher by 1,094.91 pts above the 61,000-mark at 61,559.16. The KMI 30 index grew by 2,381.59 pts ending the session at 102,665.48. While the KSE All share index appreciated by 653.91 pts to close the day at 41,390.49.

Investor participation went down from 364.24 mn shares in the last session to 362.67 mn shares. Toppers of the volume chart included, The Bank of Punjab Limited (BOP -0.48%), K-Electric Limited (KEL +0.94%) and Worldcall Telecom Limited (WTL +6.61%). The scrips had 35.44 mn shares, 28.62 mn shares and 21.43 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index to victory included Oil and Gas Exploration sector (+189.43 pts), Banking sector (+188.17 pts) and Cement sector (+159.59 pts). Company-wise, Oil and Gad Development Company Limited (OGDC +82.41 pts), Lucky Cement Limited (LUCK +69.22 pts) and Pakistan Petroleum Limited (PPL +59.67%), were top points contributors.

The Refinery sector gained 4.22% in its cumulative market capitalization. Attock Refinery Limited (ATRL +4.79%), Cynergyico PK Limited (CNERGY +2.03%), National Refinery Limited (NRL +5.48%) and Pakistan Refinery Limited (PRL +5.04%), all closed in green.

Values as at 04:11 PM