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DAILY MARKET WRAP
DAILY MARKET WRAP
Stocks Take a U-turn!
Unable to sustain the gains made in previous session, the Pakistan Stock Exchange (PSX) ended day on Wednesday in red. Indices traded in green for most part of the day but lost momentum sharply towards the end of the session, resulting in a negative close. On the other hand, volume swelled compared to previous session.

Global equity markets showed negative trend. Crude oil prices moved south, with WTI crude oil falling by 0.52% to $78.25. While Brent crude oil was down by 0.48% to $82.48. (As at 3:40 PM PST, Source: Investing.com).

Clenching 307.13 pts, the benchmark KSE 100 index touched day’s high of 75,513.90. It then lost 371.29 pts falling to day’s low of 74,835.49. The index closed lower by 250.10 pts at 74,956.67. The KMI 30 index shed 318.18 pts closing the day at 123,474.05. While the KSE All share index went down by 278.06 pts to end the day at 48,482.73.
Investor activity surged from 461.72 mn shares in the previous session to 584.14 mn shares. Hum Network Limited (HUMNL +1.09%) topped the volume chart with 71.28 mn shares traded. Followed by Pace Pakistan Limited (PACE +30.12%) and K-Elektric Limited (KEL -2.69%). The scrips had 46.65 mn shares and 34.48 mn shares traded, respectively.
Sectors driving the benchmark KSE 100 index south included, Banking sector (-56.40 pts), Cement sector (-55.54 pts) and Automobile Parts and Accessories sector (-41.56 pts). Company-wise, MCB Bank Limited (MCB -49.11 pts), Engro Corporation Limited (ENGRO -41.84 pts) and Thal Limited (THALL -41.56 pts), were top negative contributors.
The Refinery sector lost 2.37% in its cumulative market capitalization. Attock Refinery Limited (ATRL -2.17%), Cynergyico PK Limited (CNERGY -1.13%), National Refinery Limited (NRL -4.01%) and Pakistan Refinery Limited (PRL -0.08%), all closed in red.
Values as at 04:15 PM PST