DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) rebounded strongly from yesterday's losses, finishing the session on a positive note. Market indices experienced steady growth throughout the day, while trading volume surged compared to previous session. Analysts credited the upward trend to enhanced clarity on the political and economic front.

Equity markets worldwide showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.84% to $80.39. While Brent crude oil price was up by 0.80% to $84.70. (As at 1:59 PM PST, Source: Investing.com).

Gathering 1,157.38 pts, the benchmark KSE 100 index climbed to day’s high of 65,205.82. It settled higher by 1,015.82 pts at 65,064.27. The KSE All share index accumulated 2,373.04 pts closing the session at 110,496.47. While the KSE All shares index concluded the session at 703.16 with an addition of 43,262.92 pts.

Overall market volume appreciated from 252.56 mn shares in the previous session to 315.12 mn shares. Topping the volume chart with 42.75 mn shares traded was Worldcall Telecom Limited (WTL +6.30%). Followed by Cynergyico PK Limited (CNERGY +9.93%) and Kohinoor Spinning Mills Limited (KOSM +12.71%). The scrips had 36.11 mn shares and 19.58 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index into the green zone included, Oil and Gas Exploration sector (+261.00 pts), Technology and Communication sector (+93.04 pts) and Cement sector (+84.54 pts). Company-wise, Oil and Gas Development Company Limited (OGDC +104.98 pts), Pakistan Petroleum Limited (PPL +91.96 pts) and Mari Petroleum Company Limited (MARI +59.85 pts), were top points contributors.

The Oil and Gas Exploration sector gained 3.14% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC +4.66%), Pakistan Petroleum Limited (PPL +4.54%), Mari Petroleum Company Limited (MARI +4.13%) and Pakistan Oilfields Limited (POL +0.26%), all closed in red.

Values as at 02:12 PM