DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) continued to move south on Thursday. Indices traded in red for most part of the day while volume lowered compared to previous session.

Global equity markets showed a mixed trend. Crude oil prices moved north, with WTI crude oil rising by 0.42% to $79.33 while Brent crude oil was up by 0.54% to $83.90. (As at 3:57 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index swung between intraday high of 71,292.83 (gaining 190.28 pts) and intraday low of 70,562.12 (losing 540.42 pts). It closed lower by 444.91 pts at 70,657.64. The KMI 30 index dropped 685.01 pts ending the day at 118,759.79. While the KSE All share index shed 403.92 pts concluding the session at 46,150.31.

Investor activity witnessed a decline from 560.30 mn shares in the previous session to 436.82 mn shares. Highest participation was witnessed in K-Electric Limited (KEL -4.73%), Worldcall Telecom Limited (WTL -1.56%) and The Bank of Punjab Limited (BOP -3.92%). The scrips had 30.10 mn shares, 25.12 mn shares, and 20.17 mn shares traded, respectively.

Sectors dragging the benchmark KSE 100 index downwards included, Fertilizer sector (-172.21 pts), Technology and Communication sector (-123.34 pts) and Banking sector (-47.61 pts). Company-wise, TRG Pakistan Limited (TRG -57.70 pts) Engro Fertilizers Limited (EFERT -51.46 pts) and Fauji Fertilizer Company Limited (FFC -50.24 pts), were top negative contributors.

The Refinery sector lost 2.21% in its cumulative market capitalization. Attock Refinery Limited (ATRL -1.99%), National Refinery Limited (NRL -1.05%), Cynergyico PK Limited (CNERGY -3.00%), Pakistan Refinery Limited (PRL -3.30%), all closed in red.

Values as at 04:14 PM