DAILY MARKET WRAP

Recovering losses made during the previous session, the Pakistan Stock Exchange (PSX) closed the session on Tuesday in green. Indices accumulated gains all day long while volumes increased from the previous close. As per analysts, the possibility of revival of the International Monetary Fund (IMF) program helped in boosting investors’ confidence as a delegation arrived in Pakistan to discuss the revival of the stalled loan programme.

Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 1.37% to $76.83. While Brent crude oil price was up by 1.22% to $83.47. (As at 3:58 PM PST, Source: Investing.com).

On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani Rupee gains PKR 1.7455/US$ (0.65%) against the US Dollar on DoD basis ending the session at PKR 267.8855/US$.

Clenching 845.99 pts, the benchmark KSE 100 index recorded intraday high of 40,717.26. It settled higher by 801.79 pts at 40,673.06. The KMI 30 index gained 1,443.84 pts settling at 69,439.38. While the KSE All share index was up by 427.65 pts closing at 27,100.87.

Overall market volumes inched up from 140.44 mn shares in the previous session to 152.35 mn shares. Highest participation was witnessed in Worldcall Telecom Limited (WTL +0.00%), Pakistan Petroleum Limited (PPL +1.67%) and Pakistan Refinery Limited (PRL -0.07%). The scrips had 13.43 mn shares, 10.19 mn shares and 7.72 mn shares traded, respectively.

Sectors painting the benchmark KSE 100 index in green included, Fertilizer sector (165.98 pts), Banking sector (122.39 pts) and Oil and Gas Exploration sector (105.97 pts). Company-wise, Engro Corporation Limited (ENGRO 107.53 pts), Pakistan Services Limited (PSEL 79.75 pts) and The Hub Power Company Limited (HUBC 56.69 pts), were top points contributors.

The Fertilizer sector gained 2.69% in its cumulative market capitalization. Engro Corporation Limited (ENGRO 4.51%), Fauji Fertilizer Company Limited (FFC 0.68%), Engro Fertilizers Limited (EFERT 3.42%) and Fatima Fertilizer Company Limited (FATIMA 0.94%), all closed positive.

Values as at 04:10 PM PST