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DAILY MARKET WRAP
Volatile Session Ends Flat!
The Pakistan Stock Exchange (PSX) ended a rocky session on Tuesday flat. Induces traded within a narrow range while volumes depreciated from last close. Equity markets around the globe showed negative trend. Crude oil prices moved north with WTI crude oil price rising by 0.26% to $72.12. While Brent crude oil price was down by 1.05% to $76.89. (As at 3:52 PM PST, Source: Investing.com).
On the economic front, as per data released by the State Bank of Pakistan (SBP), the country reported a current account surplus of US$255 mn in May‘23 as compared to a deficit of US$(1,506) mn in SPLY and surplus of US$18 mn in Apr’23. On cumulative basis, a deficit of US$ (2,943) mn was reported during Jul-May FY23 as compared to US$ (15,160) in SPLY.

Clenching 118.76 pts, the benchmark KSE 100 index reached day’s high of 40,739.98. It then fell to day’s low of 40,507.18 losing 114.03 pts. The index settled flat by positive 31.82 pts at 40,653.03. The KMI 30 index inched up by 302.60 pts ending at 69,673.78. While the KSE All share index lost 21.84 pts closing at 27,638.20.
Total traded volume went down from 178.55 mn shares in the previous session to 124.32 mn shares. Highest volumes were witnessed in K-Electric Limited (KEL +0.63%), Worldcall Telecom Limited (WTL +1.79%) and Hascol Petroleum Limited (HASCOL +1.59%). The scrips had 9.78 mn shares, 6.99 mn shares and 6.74 mn shares exchanged, respectively.
Sectors lifting the benchmark KSE 100 index higher included, Oil and Gas Exploration sector (61.23 pts), Oil and Gas Marketing sector (28.53 pts) and Technology and Communication sector (20.32 pts). Company-wise, Oil and Gas Development Company Limited (OGDC 23.89 pts), Pakistan Petroleum Limited (PPL 22.48 pts) and The Hub Power Company Limited (HUBC 20.47 pts), drove the index north.
The Oil and Gas Exploration sector gained 1.23% in its cumulative market capitalization. Oil and Gas Development Company Limited (OGDC 1.79%), Mari Petroleum Company Limited (MARI 0.48%), Pakistan Petroleum Limited (PPL 2.13%) and Pakistan Oilfields Limited (POL 0.64%), all ended positive.
Values as at 04:11 PM PST