DAILY MARKET WRAP

On Tuesday, bears strengthened their position over the Pakistan Stock Exchange for the third consecutive session. The market experienced continuous fluctuations throughout the day, ultimately closing in the red. Trading volume decreased compared to the previous session.

Global equity markets exhibited mixed trends. Crude oil prices moved north, with WTI crude oil prices rising by 0.27% to $73.86. While Brent crude oil price appreciated by 0.23% to $77.84 (As at 3:40 PM PST, Source: Investing.com).

During the session, the benchmark KSE100 Index initially climbed to an intraday peak of 77930.04 adding 99.70 pts before dropping to a low of 77,460.40 losing 369.95 pts. By the close of trading the index had decreased by 77,745.52 with a total loss of 84.2 pts. The KMI 30 Index also faced a downturn falling by 210.91 pts to end the day at 123,982.20. While the KSE All Share Index appreciated by 51.96 pts closing at 49,921.79.

Investor activity contracted with trading volume dropping from 471.19 mn shares earlier in the session to 380.43 mn shares. Kohinoor Spinning Mills Limited (KOSM +10.14%), Yousaf Weaving Mills Limited (YOUW +9.68%), and Flying Cement Company Limited (FLYING +5.66%) were the top leaders of the chart. The scrips had 101.86 mn shares, 35.81 mn shares and 17.47 mn shares traded, respectively.

Sectors that drove the benchmark KSE 100 index in red included, Fertilizer (-66.19 pts), Power Generation and Distribution (-43.18 pts) and Cement (-27.25 pts). The negative key contributors on the company level are, Bank Al Habib (-49.56 pts), Fauji Fertilizer Company Limited (FFC -46.14 pts) and The Hub Power Company Limited (HUBC -41.11 pts).

The Cement sector lost -0.23% in its cumulative market capitalization. Lucky Cement Limited (LUCK -0.41%), Fauji Cement Company Limited (FCCL -0.39%), Kohat Cement Company Limited (KOHC -1.75%) and Pioneer Cement Limited (PIOC -0.80%) led the index south.

Values as at 04:15 PM