DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) concluded the last trading session of the week flat. Indices oscillated within a narrow range throughout the day, ultimately closing with negligible movement. Trading volume also decreased compared to previous session.

Global equity markets showed mixed trend. Crude oil prices also displayed mixed trend, with WTI crude oil rising by 0.08% to $83.95. While Brent crude oil was down by 0.07% to $87.37. (As at 4:55 PM PST, Source: Investing.com).

The benchmark KSE 100 gained 2.25% WoW. During the session it oscillated between intraday low of 80,080.25 (losing 202.55 pts) and intraday high of 80,627.49 (gaining 344.69 pts). The index settled flat by negative 70.01 pts at 80,212.79. The KMI 30 index dropped by 931.27 pts closing the day at 127,798.73. While the KSE All share index fell by 88.13 pts to end the session at 50,776.35.

Investor activity fell from 496.05 mn shares the in the last session to 447.13 mn shares. The Bank of Punjab (BOP +3.07%) witnessed highest volumes with 34.41 mn shares traded. Followed by National Bank of Pakistan (NBP +8.97%) and PIA Holding Company Limited (PIAHCLA +7.80%). The scrips had 28.50 mn shares and 25.11 mn shares traded, respectively.

Sectors dragging the benchmark KSE 100 index lower included, Oil and Gas Exploration sector (-92.02 pts), Cement sector (-55.39 pts) and Fertilizer sector (-55.11 pts). Company-wise, Oil and Gas Development Limited (OGDC -47.65 pts), The Hub Power Company Limited (HUBC -44.91 pts) and MCB Bank Limited (MCB -27.20 pts), were top negative contributors.

The Cement sector lost 0.87% in its cumulative market capitalization. Lucky Cement Limited (LUCK -0.45%), Bestway Cement Limited (BWCL -0.11%), Fauji Cement Company Limited (FCCL -0.66%) and Kohat Cement Company Limited (KOHC -1.92%), all closed in red.

Values as at 05:12 PM