DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) put an end to its winning streak on Tuesday. Indices oscillated between both zones before closing in red while volume lowered compared to previous session.

Worldwide equity markets displayed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.03% to $78.76. While Brent crude oil price was up by 0.18% to $82.95. (As at 3:59 PM PST, Source: Investing.com).

Gathering 183.12 pts, the benchmark KSE 100 index touched day’s high of 66,134.85. It then slipped to day’s low of 65,500.07 losing 451.66 pts. The index settled lower by 225.68 pts at 65,726.04. The KMI 30 index was down by 773.25 pts ending the session at 111,281.23. While the KSE All share index dropped 265.39 pts ending the day at 43,423.67.

Investor participation dropped from 472.70 mn shares in the last session to 396.40 mn shares. Kohinoor Spinning Mills Limited (KOSM -3.17%), Pakistan Refinery Limited (PRL +2.80%) and Pakistan Telecommunication Company Limited (PTC +1.16%), witnessed highest market participation. The scrips had 39.72 mn shares, 34.05 mn shares and 24.85 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index south included, Oil and Gas Exploration sector (-199.64 pts), Oil and Gas Marketing sector (-47.25 pts) and Power Generation and Distribution sector (-23.17 pts). Company-wise, Oil and Gas Development Company Limited (OGDC -82.86 pts), Pakistan Petroleum Limited (PPL -64.91 pts) and Mari Petroleum Company Limited (MARI -37.02 pts), were top negative contributors.

The Oil and Gas Marketing sector lost 2.01% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO -2.16%), Sui Northern Gas Pipelines Limited (SNGP -2.87%), Attock Petroleum Limited (APL -2.87%) and Shell Pakistan Limited (SHELL -1.26%), all closed in red.

Values as at 04:15 PM