DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a volatile session on Tuesday flat. Although indices showed early gains, they eventually settled nearly unchanged, accompanied by a decrease in trading volume compared to previous session. Analysts attributed the cautious trading atmosphere to ongoing tensions in the Middle East, which kept investors on edge.

Equity markets worldwide showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.46% to $85.02. While Brent crude oil price was down by 0.41% to $89.73. (As at 3:58 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index jumped to record high of 71,092.61 (gaining 548.03 pts). It then lost momentum and slipped to day’s low of 70,405.24 (losing 139.34 pts). The index settled flat by negative 60.92 pts at 70,483.66. The KMI 30 index fell by 328.26 pts ending the session at 118,234.98. While the KSE All share index concluded the day at 46,296.90 with a loss of 53.14 pts.

Investor participation contracted from 555.10 mn shares in the previous session to 548.26 mn shares. Toppers of the volume chart were, Worldcall Telecom Limited (WTL -2.16%), Kohinoor Spinning Mills Limited (KOSM +12.96%) and Air Link Communication Limited (AIRLINK +3.65%). The scrips had 91.60 mn shares, 34.40 mn shares and 18.98 mn shares exchanged, respectively.

Sectors dragging the benchmark KSE 100 index lower included, Fertilizer sector (-96.84 pts), Cement sector (-40.33 pts) and Miscellaneous sector (-34.66 pts). Company-wise, Fauji Fertilizer Company Limited (FFC -71.58 pts), Dawood Hercules Corporation Limited (DAWH -31.84 pts) and Pakistan Services Limited (PSEL -31.31 pts), were top negative contributors.

The Fertilizer sector lost 0.98% in its cumulative market capitalization. Engro Corporation Limited (ENGRO -0.46%), Engro Fertilizer’s Limited (EFERT -1.15%), Fauji Fertilizer Company Limited (FFC -2.38%) and Fauji Fertilizer Bin Qasim Limited (FFBL -1.02%), all closed in red.

Values as at 04:12 PM