DAILY MARKET WRAP

Positive sentiments brewed at the Pakistan Stock Exchange (PSX) on Thursday. Indices traded in green for most of the day. Investor activity picked up compared to previous session. Analysts noted that investors remained hopeful for a major policy rate cut in the upcoming monetary policy announcement.

Global equity markets exhibited mixed trends. Crude oil prices moved north, with WTI crude oil prices rising by 1.68% to $68.44. While Brent crude oil price went up by 1.53% to $71.69 (As at 3:36 PM PST, Source: Investing.com).

Losing 74.15 pts, the benchmark KSE 100 index slipped to day’s low of 78,577.65. It then climbed to day’s high of 79,217.62 with an addition of 565.82 pts. The index closed the session higher by 365.82 pts at 79,017.62. The KMI 30 index appreciated by 323.12 pts to close the day at 125,120.40. While the KSE All share index increased by 197.29 pts to finish the session at 50,974.94.

Investor activity grew from 532.59 mn shares in the previous session to 583.98 mn shares. Highest volumes were seen in Kohinoor Spinning Mills Limited (KOSM +8.75%), Worldcall Telecom Limited (WTL -4.67%) and TPL Properties Limited (TPLP +11.98%). The scrips had 60.75 mn shares, 57.98 mn shares and 32.45 mn shares, traded respectively.

Sectors that led the benchmark KSE 100 index north included Fertilizer sector (+86.95 pts), Banking sector (+82.39 pts) and Cement sector (+63.83 pts). On a company level, United Bank Limited (UBL +98.10 pts), Fauji Fertilizer Company Limited (FFC +49.50 pts) and Fauji Cement Company Limited (FFC +30.92 pts), drove the index north.

The Cement sector gained 1.03% in its cumulative market capitalization. Bestway Cement Limited (BWCL +0.73%), Maple Leaf Cement Factory Limited (MLCF +4.45%), Fauji Cement Company Limited (FCCL +4.78%) and Pioneer Cement Limited (PIOC +1.43%), all closed in green.

Values as at 04:15