DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a turbulent session on Tuesday flat. Indices swayed in both directions, while volumes shrunk from last close. Equity markets around the globe showed positive trend. Crude oil prices moved south with WTI crude oil prices falling by 0.24% to $80.33. While Brent crude oil price was down by 0.24% to $85.91. (As at 3:49 PM PST, Source: Investing.com).

On the economic front, as per data released by the State bank of Pakistan (SBP), the Pakistani Rupee gained PKR 0.0510/US$ (0.02%) against the US Dollar on DoD basis ending the session at PKR 277.8658/US$.

The benchmark KSE 100 index oscillated between intraday high of 41,530.19 (gaining 95.86 pts) and low of 41,334.69 (losing 99.64 pts). It settled flat by negative 99.64 pts at 41,334.69. The KMI 30 index went down by 38.00 pts closing at 70,836.69. While the KSE All Share index lost 30.62 pts settling at 27,034.33.

Overall market volumes dropped from 221.48 mn shares in last session to 159.43 mn shares. Companies topping the volume chart included Telecard Limited (TELE +2.74%), Worlcall Telecom Limited (WTL -1.53%) and Maple Leaf Cement Factory Limited (MLCF +4.04%). The scrips had 23.58 mn shares, 12.34 mn shares and 10.08 mn shares traded, respectively.

Sectors dragging the benchmark KSE 100 index downwards included, Miscellaneous sector (61.89 pts), Oil and Gas Exploration sector (56.00 pts) and Banking sector (38.37 pts). Company-wise, Pakistan Services Limited (PSEL 60.77 pts), Oil and Gas Development Company Limited (OGDC 20.33 pts) and Pakistan Petroleum Limited (PPL 17.68 pts), were top negative contributors.

The Oil & Gas Exploration Companies sector lost 1.06% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC -1.38%), Mari Petroleum Company Limited (MARI -0.55%), Pak Petroleum Limited (PPL -1.43%), and Pakistan Oilfields Limited (POL -0.80%), all closed in red.

Values as at 04:13 PM PST