DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed first trading session of the week flat. Indices oscillated in both directions while volumes depreciated from previous close. As per analysts, investors remained undecisive ahead of the monetary policy announcement later in the day.

Equity markets around the globe showed mixed trend, Crude oil prices moved north with WTI crude oil price rising by 0.71% to $82.22. While brent crude oil price was up by 0.80% to $88.33. (As at 3:56 PM PST, Source: Investing.com).

On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani rupee lost PKR 0.4877/USD (0.21%) against the US Dollar on DoD basis ending the session at PKR 230.1531/US$.

Losing 272.45 pts, the benchmark KSE 100 index recorded intraday low of 38,135.53. It then climbed to day’s high of 38,553.12 (gaining 145.14 pts). The index settled flat by positive 35.61 pts at 38,443.59. The KMI 30 index went up by 251.23 pts closing at 65,837.26. While the KSE All share index gathered 4.23 pts to close at 25,999.40.

Overall market volumes contracted from, 93.31 shares in the last session to 81.08 mn shares. Topping the volume chart with 7.83 mn shares traded was TRG Pakistan Limited (TRG +2.62%) Followed Worldcall Telecom Limited (WTL -0.90%) and Pakistan Petroleum Limited (PPL +2.23%). The scrips had 5.91 mn shares and 3.85 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index north included, Oil and Gas Exploration sector (84.58 pts), Cement sector (40.18 pts), Technology and Communication (28.74 pts). Company-wise, Oil and Gas Development Company Limited (OGDC 41.83 pts), Pakistan Petroleum Limited (PPL 28.69 pts) and TRG Pakistan Limited (TRG 25.86 pts) were top positive contributors.

The Power Generation and Distribution sector gained 1.05% in its cumulative market capitalization. The Hub Power Company Limited (HUBC 1.21%), K-Electric Limited (KEL 0.94%), Kot Addu Power Company Limited (KAPCO 0.37%), all closed in green.

Values as at 04:12 PM PST