DAILY MARKET WRAP

Downward trend continued at the Pakistan Stock Exchange (PSX) on last trading session of the week. Indices slipped lower and lower for most part of the day, while volumes plunged from last close. Equity markets around the globe showed negative trend. Crude oil prices moved south with WTI crude oil price falling by 1.20% to $69.12. While Brent crude oil price was down by 1.09% to $75.08. (As at 2:27 PM PST, Source: Investing.com).

The benchmark KSE 100 index lost 3.36% on WoW basis. During the day, the index swung between intraday high of 40,440.70 (64.60 pts) and low of 39,922.89 (453.21 pts). It ended lower by 434.05 pts at 39,942.05. The KMI 30 index fell by 737.92 pts closing at 68,777.77. While the KSE All Share index was down by 255.55 pts settling at 26,424.91.

Overall market volumes declined from 147.39 mn shares in last session to 46.02 mn shares. Worldcall Telecom Limited (WTL -0.83%), Telecard Limited (TELE -6.86%) and TPL Properties Limited (TPLP -2.33%). The scrips had 4.01 mn shares, 3.88 mn shares and 1.84 mn shares exchanged, respectively. Out of the total scrips traded, 76 advanced, 193 declined and 278 remained unchanged.

Sectors dragging the benchmark KSE 100 index lower included, Oil and Gas Exploration sector (61.68 pts), Technology and Communication sector (61.41 pts) and Miscellaneous sector (47.92 pts). Company-wise, Pakistan Services Limited (PSEL 46.99 pts), TRG Pakistan Limited (TRG 28.20 pts) and Systems Limited (SYS 28.08 pts), were top negative contributors.

The Oil & Gas Marketing Companies sector lost 2.28% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO 2.43%), Attock Petroleum Limited (APL 0.38%), Sui Northern Gas Pipe line Limited (SNGP 3.22%)and Shell Pakistan Limited (SHEL 2.86%) all closed in red.

Values as at 02:29 PM PST