DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) opened the week on a positive note despite a temporary trading halt due to a fire incident at the PSX building. Indices traded in green for most part of the day, although trading volumes were lower compared to prior session.

Global equity markets showed mixed trend. Crude oil prices moved south, with WTI crude oil falling by 0.97% to $82.35. While Brent crude oil was down by 0.77% to $85.87. (As at 3:50 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index dipped into the red zone losing 20.48 pts and recording day’s low of 80,192.31. It then gained momentum and reached day’s high of 80,737.71 with an addition of 524.92 pts. The index settled higher by 353.41 pts at 80,566.21. The KMI 30 index increased by 494.28 pts ending the day at 128,293.01. While the KSE All share index grew by 392.98 pts to end the day at 51,169.33.

Investor activity slipped from 447.13 mn shares the in the last session to 261.53 mn shares. Hum Network Limited (HUMNL +4.60%), National Bank of Pakistan (NBP +8.55%) and The Bank of Punjab (BOP +1.58%), led the volume chart. The scrips had 20.67 mn shares, 19.56 mn shares and 17.59 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index north included, Banking sector (+204.10 pts), Cement sector (+76.28 pts) and Refinery sector (+44.03 pts). Company-wise, Habib Bank Limited (HBL +74.34 pts), National Bank of Pakistan (NBP +65.00 pts) and Allied Bank Limited (ABL +37.44 pts), were top points contributors.

The Refinery sector gained 4.79% in its cumulative market capitalization. Attock Refinery Limited (ATRL +5.89%), Cynergyico PK Limited (CNERGY +4.32%), National Refinery Limited (NRL +2.89%) and Pakistan Refinery Limited (PRL +4.07%), all closed in green.

Values as at 04:12 PM