MM News

KARACHI: Bulls regained control of the Pakistan Stock Exchange (PSX), with the benchmark index crossing the 45,000 barrier for the first time since May 2018.

The benchmark KSE-100 Index remained in the green throughout the day, registering its intraday high at 45,194.63 (+544.20 points). It settled higher by 502.99 points at 45,153.42.

Among other indices, the KMI-30 Index accumulated 1,194.11 points to close at 73,830.39, while the KSE All Share Index added 364.42 points, ending at 31,630.58.

The overall market volumes surged from 582.08 million shares in the previous session to 664.29 million shares (+14 percent). Average traded value increased by 2 percent, from $151.2 million to $154 million.

Sectors that painted the benchmark index green included banking (+110.03 points), oil and gas exploration sector (+106.95 points) and cement (+60.76 points).

Adding 6.86 percent to its cumulative market capitalization, the refinery sector ended as the session’s top performer, with Byco Petroleum Pakistan Ltd (BYCO +11.38pc), Pakistan Refinery Ltd (PRL +4.59pc), Attock Refinery Ltd (ATRL +1.65pc) and National Refinery Ltd (NRL +4.34pc) posting significant gains.

Global equity markets also showed a positive trend, whereas crude oil prices continued to move uphill; WTI crude price appreciating 0.64pc to $50.26 while Brent crude price surging 1.01pc to $54.21 (as at 3:56pm PST).