DAILY MARKET WRAP

Volatility marred the Pakistan Stock Exchange (PSX) on Thursday. Indices swung between both zones until finally closing in green. Market volumes dropped compared to previous session. Global equity markets showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 1.73% to $70.67. While Brent crude oil price was up by 1.80% to $75.60. (As at 3:45 PM PST, Source: Invetsing.com).

During the day, the benchmark KSE 100 index oscillated between intraday low of 64,437.70 (losing 842.26 pts) and intraday high of 65,622.56 (gaining 342.40 pts). It settled higher by 170.03 pts at 65,450.19. The KMI 30 index was up by 423.67 pts ending at 110,827.53. While the KSE All share index was up by 212.86 pts closing the session at 43,492.51.

Market volumes shrank from 1.36 bn shares in the last session to 981.12 mn shares. Out of the total scrips traded, 41.54% belonged to KSE 100 scrips. Highest contributors to the volume chart were Kohinoor Spinning Mills Limited (KOSM 16.81%), The Bank of Punjab Limited (BOP +10.81%) and Hascol Petroleum Limited (HASCOL +8.18%). The scrips had 160.18 mn shares, 89.77 mn shares and 79.31 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index included, Oil and Gas Exploration (136.84 pts), Fertilizer sector (+52.01 pts) and Cement sector (+14.58 pts). Company-wise, Pakistan Petroleum Limited (PPL +88.74 pts), Oil and Gas Development Company Limited (OGDC +38.69 pts) and Fauji Fertilizer Company Limited (FFC +21.30 pts), drove the index north.

The Fertilizer sector rose by 1.32% in its cumulative market capitalization. Engro Corporation Limited (ENGRO +0.37%), Fauji Fertilizer Company limited (FFC +1.71%), Engro Fertilizers Limited (EFERT +0.66%) and Fatima Fertilizer Company Limited (FATIMA +2.97%), all closed in green

Values as at 04:14 PM