DAILY MARKET WRAP

Investors of the Pakistan Stock Exchange (PSX) witnessed a jittery session on Monday. Indices traded in green for most part of the day while volumes inclined from last close. Equity markets around the globe showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 1.79% to $75.21. While Brent crude oil price was down by 1.68% to $81.39. (As at 3:58 PM PST, Source: Investing.com).

On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani Rupee lost PKR 0.8310/USD (0.30%) against the US Dollar on DoD basis ending the session at PKR 281.6054/US$.

Accumulating 497.90 pts, the benchmark KSE 100 index recorded intraday high of 42,291.77. Failing to sustain the gains the index dipped to day’s low of 41,787.35 (down by 6.52 pts) during final hours of trade. The index settled flat by positive 62.98 pts at 41,856.85. The KMI 30 index gathered 752.79 pts closing at 72,528.07. While the KSE All Share index managed to clench 106.70 pts ending the session at 27,464.97.

Overall market volumes appreciated from 272.72 mn shares in last session to 289.14 mn shares. Hascol Petroleum Limited (HASCOL +8.87%), Telecard Limited (TELE +2.74%) and Oil and Gas Development Company Limited (OGDC +7.27%). The scrips had 42.44 mn shares, 25.82 mn shares and 18.45 mn shares traded, respectively.

Sectors painting the benchmark KSE 100 index in green included Oil and Gas Exploration sector (208.14 pts), Oil and Gas Marketing sector (23.98 pts) and Fertilizer sector (14.90 pts). Company-wise, Oil and Gas Development Company Limited (OGDC 109.07 pts), Pakistan Petroleum Limited (PPL 74.67 pts) and Pakistan State Oil Company Limited (PSO 14.75 pts), were top points contributors.

The Oil & Gas Marketing Companies sector gained 1.75% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO 2.18%), Shell Pakistan Limited (SHEL 1.19%) and Sui Northern Gas Pipe line Limited (SNGP 2.56%) all closed in green.

Values as at 04:09 PM PST