DAILY MARKET WRAP

PSX Starts Week on Negative Note!

The Pakistan Stock Exchange (PSX) ended the day in negative territory, with a steady decline observed throughout the session. Early gains were short-lived as selling pressure dominated, leading to a drop in the index by the close. Brief recovery attempts failed to sustain momentum, reflecting cautious investor sentiment amid heightened trading activity.

Source: stockintel.com

Worldwide equity markets displayed mixed trends. Crude oil prices moved north with WTI crude oil price rising by 0.46% to $75.00. While Brent crude oil price was up by 0.36% to $77.83. (As at 3:42 PM PST, Source: Investing.com).

During the session, the KSE-100 Index experienced a decline of 1,360.16 pts, closing at 113,520.32 after reaching an intraday high of 115,596.87 by gaining 716.38 pts, marking a drop of 1,398.26 pts at 113,482.23. The KMI-30 Index also fell significantly by 3,466.69 pts ending the day at 170,845.40. Similarly, the KSE All Share Index declined by 948.86 pts settling at 69,974.10.

Overall market volume shrank from 631.42 mn shares in the last session to 492.22 mn shares. Sui Southern Gas Company Limited (SSGC -10.00%), Cynergyico PK Limited (CNERGY -1.82%) and Worldcall Telecom Limited (WTL -3.35%) witnessed highest market volumes. The scrips had 51.65 mn shares, 50.68 mn shares and 29.07 mn shares traded, respectively.

The decline in the benchmark KSE-100 index was primarily driven by key sectors, including the Oil and Gas Exploration sector (-483.95 pts), the Banking sector (-220.03 pts) and the Oil and Gas Marketing sector (-175.48 pts). Notable contributors to the index's downturn were Mari Energies Limited (MARI), which shaved off 374.65 pts, Engro Holdings Limited (ENGROH), which deducted 144.59 pts and Pakistan State Oil Company Limited (PSO), reducing the index by 99.99 pts.

The Oil and Gas Marketing sector lost 4.63% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO -3.79%), Attock Petroleum Limited (APL -3.40%), Sui Northern Gas Pipelines Limited (SNGP -5.45%) and Sell Pakistan Limited (SHEL -5.65%), all closed in negative territory.

Values as at 04:15