DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) continued its upward trajectory from previous week, closing the session on Monday in green. Throughout the day, the indices experienced consistent gains, accompanied by an increase in trading volume compared to previous session. As per analysts, enhanced political clarity contributed to the market's upward momentum.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.38% to $79.67. While Brent crude oil price was down by 0.25% to $83.34. (As at 3:53 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index gained 681.75 pts climbing to day’s high of 66,007.44. It closed the session higher by 626.04 pts at 65,951.73, only 50 pts away from the 66,000-mark. The KMI 30 index appreciated by 1,959.56 pts closing the day at 112,054.48. While the KSE All share index surged by 420.11 pts ending at 43,689.06.

Investor activity went up from 344.04 mn shares in the last session to 472.70 mn shares. Kohinoor Spinning Mills Limited (KOSM +5.97%), Worldcall Telecom Limited (WTL +6.20%) and K-Electric Limited (KEL +3.08%) led the volume chart. The scrips had 67.44 mn shares, 60.21 mn shares and 36.84 mn shares exchanged, respectively.

Sectors painting the benchmark KSE 100 index in green included, Oil and Gas Exploration sector (+369.64 pts), Power Generation and Distribution sector (+68.96 pts) and Cement sector (+59.15 pts). Company-wise, Oil and Gas Development Company Limited (OGDC +174.67 pts), Pakistan Petroleum Limited (PPL +139.12 pts) and Mari Petroleum Company Limited (MARI +55.93 pts), were top points contributors.

The Oil and Gas Exploration sector gained 4.37% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +7.50%), Pakistan Petroleum Limited (PPL +2.07%), Mari Petroleum Company Limited (MARI +6.65%) and Pakistan Oilfields Limited (POL +0.15%), all closed in green.

Values as at 04:12 PM