DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) experienced a robust recovery as bulls dominated the market leading to consistent gains on Tuesday. Trading volumes surged significantly, indicating heightened investor participation and a shift in market momentum. The overall market sentiment remained positive boosting investor confidence.

Global equity markets exhibited mixed trends. Crude oil prices moved south, with WTI crude oil falling by 0.95% to $68.06. While Brent crude oil depreciated by 0.97% to $71.14. (As at 3:52 PM PST, Source: Investing.com).

The KSE 100 index surged to a daily peak of 79,335.59 marking a rise of 720.59 pts. By the end of the session, it closed up by 671.73 pts at 79,286.74. The KMI 30 index increased by 1,115.16 pts to close at 125,886.07. While the KSE All Share index advanced by 350.70 pts to wrap up at 51,041.89.

Overall market activity increased, with trading volume climbing from 490.93 mn shares in the prior session to 509.38 mn shares. Topping the volume charts were Worldcall Telecom Limited (WTL +4.11%), Kohinoor Spinning Mills Limited (KOSM +4.47%) and Agritech Limited (AGL +10.00%). The scrips had 117.01 mn, 57.12 mn, and 18.15 mn shares traded, respectively.

The sectors propelling the KSE 100 index's gains were Banking (+303.16 points), Cement sector (+119.33 pts) and Fertilizer sector (+44.79 pts). Among companies, Engro Fertilizers Limited (EFERT +95.40 pts), United Bank Limited (UBL +77.59 pts) and Bank Alfalah Limited (BAFL +71.85 pts) contributed the most to the index’s rise.

The Cement sector witnessed a 1.61% increase in market capitalization. Key players in the sector, including Lucky Cement Limited (LUCK +3.07%), Fauji Cement Company Limited (FCCL +2.67%), Pioneer Cement Limited (PIOC +2.35%) and D.G. Khan Cement Company Limited (DGKC +2.48%), all finished the day with positive performances.

Values as at 04:15 PM