DAILY MARKET WRAP

Volatility marred the Pakistan Stock Exchange (PSX) on Monday. Indices oscillated between both zones until finally closing in negative territory. Volume also lowered compared to previous session.

Global equity markets exhibited mixed trend. Crude oil prices moved north, with WTI crude oil prices rising by 2.59% to $76.77. While Brent crude oil price appreciated by 2.33% to $79.97 (As at 3:59 PM PST, Source: Investing.com).

The benchmark KSE 100 index initially recorded an intraday high of 79,160.40 gaining 358.97 pts. It then lost 247.56 pts and slipped to day’s low of 78,553.87. The index closed the session lower by 230.37 pts at 78,571.06. The KMI 30 index went up by 343.21 pts to close the day at 124,555.19. While the KSE All share index fell by 162.87 pts to end the day at 50,598.47.

Investor activity went down from 681.86 mn shares in the prior session to 508.85 mn shares. Symmetry Group Limited (SYM -0.52%), Kohinoor Spinning Mills Limited (KOSM -3.66%) and Worldcall Telecom Limited (WTL -1.54%), led the volume chart. The scrips had 59.37 mn shares, 50.62 mn shares and 24.44 mn shares traded, respectively.

Sectors dragging the benchmark KSE 100 index lower included, Banking sector (-224.51 pts), Fertilizer sector (-93.43 pts) and Cement sector (-71.68 pts). Company-wise, Habib Bank Limited (HBL -93.92 pts), United Bank Limited (UBL -56.59 pts) and Abbott Laboratories Limited (ABOT -51.52 pts), drove the index south.

The Refinery sector lost 1.09% in its cumulative market capitalization. Attock Refinery Limited (ATRL -1.18%), Cynergyico PK Limited (CNERGY -0.53%), National Refinery Limited (NRL -1.45%), Pakistan Refinery Limited (PRL -1.87%), all closed in red.

Values as at 04:15 PM