DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) ended a volatile session on Thursday flat. Indices oscillated in both directions while volumes increased from last close. Equity markets around the globe showed negative trend. 

Crude oil prices moved south with WTI crude oil price falling by 0.88% to $79.10. While Brent crude oil price was down by 0.68% to $84.40. (As at 3:54 PM PST, Source: Investing.com).

On the economic front, as per data published by the State Bank of Pakistan (SBP), the country reported a current account deficit of US$400 mn in Dec‘22 as compared to a deficit of US$1,857mn in SPLY & deficit of US$252 mn in Nov’22. On cumulative basis, a deficit of US$ 3,667mn was recorded during Jul-Dec FY23 as compared to US$ 9,091 in SPLY.

During the day, the benchmark KSE 100 index swung between intraday high of 39,064.90 (gaining 273.81 pts) and intraday low of 38,730.30 (losing 60.79 pts). It closed flat by positive 40.49 pts at 38,831.58. The KMI 30 index gathered 237.80 pts to close at 66,458.95. While the KSE All share index surged by 46.27 pts settling at 26,189.05.

Overall market volumes went up from 152.95 mn shares in the previous session to 157.60 mn shares. Whereas total traded value went increased from Rs.5.01 bn on Wednesday to Rs.6.40 bn. Topping the volume chart with 13.64 mn shares traded was Pakistan Petroleum Limited (PPL +6.04%). Followed by TRG Pakistan Limited (TRG +6.03%) and Oil and Gas Development Company Limited (OGDC +4.40%). The scrips had 11.05 mn shares and 10.99 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 index higher included, Oil and Gas Exploration sector (113.84 pts), Technology and Communication sector (61.97 pts) and Oil and Gas Marketing sector (25.42 pts). Company-wise, Pakistan Petroleum Limited (PPL 72.33 pts), TRG Pakistan Limited (TRG 57.03 pts) and Oil and Gas Development Company Limited (OGDC 55.48 pts), were top positive contributors.

The Refinery sector gained 1.43% in its cumulative market capitalization. Cnergyico PK Limited (CNERGY 3.64%), Attock Refinery Limited (ATRL 0.89%) and Pakistan Refinery Limited (PRL 0.64%), all closed in green.

Values as at 4:06 PM PST