DAILY MARKET WRAP

Investors of the Pakistan Stock Exchange (PSX) continued to exercise caution prior to the monetary policy meeting scheduled for later today. Indices exhibited limited movement while volumes appreciated from last close.

Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.98% to $89.50. While Brent crude oil price was up by 1.03% to $92.91. (As at 3:49 PM PST, Source: Investing.com).

The benchmark KSE 100 index moved uphill during early hours of trade recording intraday high of 45,776.97 up by 186.04 pts. It then lost 9.44 pts recording day’s low of 45,581.49. The index settled flat by positive 59.13 pts at 45,650.06. The KMI 30 index gained 88.76 pts ending the session at 76,905.50. While the KSE All share index showed a depreciation of 20.39 pts settling at 30,406.29.

Market volumes swelled from 102.60 mn shares in the previous session to 135.11 mn shares. Out of the total scrips traded 45.43% belonged to KSE 100 scrips. K-Electric Limited (KEL +0.00%) topped the volume chart with 18.08 mn shares exchanged. Followed by Al-Shaheer Corporation Limited (ASC +7.20%) and Maple Leaf Cement Factory Limited (MLCF +0.35%). The scrips had 18.01 mn shares and 8.15 mn shares exchanged, respectively.

Sectors lifting the benchmark KSE 100 index higher included, Banking sector (+37.40 pts), Miscellaneous sector (+20.41 pts) and Investment Banking sector (+20.20 pts). Companies that led the index into the green zone included, Dawood Hercules Corporation Limited (DAWH +21.72 pts), Habib Metropolitan Bank Limited (HMB +14.66 pts) and Bank Al Habib Limited (POL +11.44 pts).

Cumulative market capitalization of the Oil and Gas Exploration sector went up by 0.21%. Oil and Gas Development Company Limited (OGDC +0.45%), Mari Petroleum Company Limited (MARI +0.07%) and Pakistan Oilfields Limited (POL +0.49%), all closed positive.

Values as at 04:10 PM PST