DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) experienced a day of choppy trading on Tuesday, marked by significant swings in indices and a closing in the red. Trading volumes rose compared to previous session.

Worldwide equity markets displayed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 2.50% to $73.44. While Brent crude oil price was up by 2.53% to $78.99. (As at 3:44 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index swayed between intraday high of 65,333.70 (gaining 671.92 pts) and intraday low of 64,213.63 (losing 448.16 pts). It settled lower by 312.18 pts at 64,349.60. The KMI 30 index slipped by 380.77 pts ending at 108,760.73. While the KSE All share index shed 233.20 pts closing at 42,991.53.

Market liquidity saw a surge as the total volume rose from 624.91 mn shares in the last session to 671.48 mn shares. Significant activity was observed in K-Electric Limited (KEL -2.57%), Worldcall Telecom Limited (WTL -2.55%) and Pakistan Petroleum Limited (PPL -0.87%). The scrips had 79.85 mn shares, 46.48 mn shares and 34.95 mn shares traded, respectively.

Sectors painting the benchmark KSE 100 index in red included, Power Generation and Distribution sector (-74.50 pts), Fertilizer sector (-44.38 pts) and Investment Banking sector (-35.07 pts). Company-wise, The Hub Power Company Limited (HUBC -45.55 pts), Mari Petroleum Company Limited (MARI -38.22 pts) and Systems Limited (SYS -35.32 pts), drove the index south.

The Power Generation and Distribution sector lost 1.55% in its cumulative market capitalization. The Hub Power Company Limited (HUBC -1.27%), K-Electric Limited (KEL -2.57%), Kot Addu Power Company Limited (KAPCO -1.74%) and Pakgen Power Limited (PKGP -3.73%), all closed in red.

Values as at 04:12 PM