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DAILY MARKET WRAP
Volatile Session Ends Flat!
Investors of the Pakistan Stock Exchange (PSX) witnessed a volatile session on Monday. Indices traded in green for most part of the day until finally closing flat while volumes rose from last close. Equity markets around the world showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 1.22% to $74.17. While Brent crude oil price was down by 1.18% to $78.62. (As at 4:11 PM PST, Source: Investing.com).
On the economic front, as per data released by the State Bank of Pakistan (SBP), a total of 10,861 new Roshan Digital Accounts were opened during Jun’23 as compared to 12,527 in Jun’22. Funds worth US$ 127 mn were received during the same period (down by 49.20% YoY).
During the day, the benchmark KSE 100 index oscillated between intraday high of 45,283.31 (215.33 pts) and intraday low of 45,013.98 (losing 54.00 pts). It settled flat by negative 25.37 pts at 45,042.61. The KMI 30 index fell by 437.74 pts closing at 76,149.65. While the KSE All share index accumulated 104.92 pts settling at 30,434.06.
Overall market volumes surged from 267.44 mn shares in the previous session to 314.69 mn shares. Bank of Punjab Limited (BOP +17.96%) was the volume leader with 49.14 mn shares exchanged. Followed by Worldcall Telecom Limited (WTL +2.33%) and Telecard Limited (TELE +0.12%). The scrips had 45.87 mn shares and 18.64 mn shares exchanged, respectively.
Sectors dragging the benchmark KSE 100 index downwards included Technology and Communication sector (56.14 pts), Fertilizer sector (41.57 pts) and Oil and Gas Exploration sector (29.46 pts). Company-wise, Systems Limited (SYS 65.06 pts), Engro Corporation Limited (ENGRO 34.61 pts) and The Hub Power Company Limited (HUBC 15.87 pts), drove the index south.
The Automobile Parts & Accessories sector lost 1.61% in its cumulative market capitalization. Thal Limited (THALL 0.05%), Panther Tyres Limited (PTL 1.89%), and Ghandhara Tyre and Rubber Company Limited (GTYR 1.15%), all closed negative.
Values as at 04:58 PM PST