DAILY MARKET WRAP (1)

The Pakistan Stock Exchange (PSX) ended a volatile session flat on Thursday. Indices traded between both zones ultimately settling with little change, while volumes dropped compared to previous session. Global equity markets displayed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 1.82% to $79.28. While Brent crude oil price was up by 1.73% to $84.31. (As at 3:51 PM PST, Source: Investing.com).

Losing 73.86 pts, the benchmark KSE 100 index slipped to day’s low of 60,428.14. It then surged to day’s high of 60,981.68 gaining 479.68 pts. Momentum eased as the session proceeded and the index eventually settled flat with a gain of 29.28 pts at 60,531.27. The KMI 30 index went up by 675.87 pts ending the session at 101,700.59. While the KSE All share index grew by 52.03 pts settling at 40,324.28.

Overall market volume contracted from 689.67 mn shares in the last session to 466.50 mn shares. Fauji Foods Limited (FFL 6.35%), Fauji Fertilizer Bin Qasim Limited (FFBL +7.48%), Worldcall Telecom Limited (WTL -1.31%) were volume leaders of the session. The scrips had 34.55 mn shares, 32.03 mn shares and 28.10 mn shares exchanged, respectively.

Sector wise, top points contributors to the KSE 100 index were, Automobile Assembler sector (+142.45 pts), Cement sector (+133.19 pts) and Power Generation and Distribution sector (+96.20 pts). Company-wise, Millat Tractors Limited (MTL +126.58 pts), Lucky Cement Limited (LUCK +109.70 pts) and The Hub Power Company Limited (HUBC +90.44 pts), drove the index north.

The Power Generation and Distribution sector gained 1.79% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +2.16%), K-Electric Limited (KEL +0.31%), Pakgen Power Limited (PKGP +3.52%) and Engro Powergen Qadirpur Limited (EPQL +0.70%), all closed in green.

Values as at 04:11 PM PST