DAILY MARKET WRAP

Tables turned at the Pakistan Stock Exchange (PSX) as it ended the session on Wednesday in green. Indices swayed in both directions while volumes depreciated from last close. Equity markets around the globe showed negative trend. Crude oil prices moved south with WTI crude oil price falling by 0.95% to $78.31 while Brent crude oil price went down by 0.75% to $84.94. (As at 3:55 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 1.9589/US$ (0.73%) against the US Dollar on DoD basis ending the session at PKR 265.3822/US$.

Losing 231.31 pts, the benchmark KSE 100 slipped to day’s low of 40,918.85. Gaining momentum, it then crawled to day’s high of 41,457.76 (gathering 307.60 pts). The index settled higher by 176.69 pts at 41,326.85. The KMI 30 index jumped up by 559.84 pts closing at 71,505.24. While the KSE All share index settled at 27,549.74 with a gain of 20.47 pts.

Overall market volumes depreciated from 187.37 mn shares in last session to 137.13 mn shares. Highest participation was witnessed in Worldcall Telecom Limited (WTL 0.81%) with 12.58 mn shares traded. Followed by Cynergyico PK Limited (CNERGY 0.54%) and Hub Power Company Limited (HUBC 3.24%). The scrips had 7.82 mn shares and 7.22 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 higher included Technology and Communication sector (72.42 pts), Oil and Gas Exploration sector (65.45 pts) and Power Generation and Distribution sector (51.80 pts). Company-wise, Systems Limited (SYS 58.15 pts), The Hub Power Company Limited (HUBC 54.21 pts) and Habib Bank Limited (HBL 43.58 pts), were top points contributors.

The Technology and Communication sector gained 1.92% in its cumulative market capitalization. Systems Limited (SYS 2.53%), TRG Pakistan Limited (TRG 3.66%), Avanceon Limited (AVN 0.56%) and Octopus Digital Limited (OCTOPUS 1.11%) all closed in green.

Values as at 04:10 PM PST