DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a turbulent session on Monday flat. Indices swung high and low while market volume lowered compared to previous session.

Equity markets around the globe showed positive trend. Crude oil prices moved north with WTI crude oil price rising by 0.97% to $76.78. While Brent crude oil was up by 0.99% to $81.41. (As at 3:44 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index dropped to day’s low of 56,738.40 falling by 324.76 pts. It then climbed to day’s high of 57,309.27 gaining 246.11 pts. The index settled flat by positive 14.80 pts at 57,077.96. The KMI 30 index shed 475.14 pts ending at 97,339.93. While the KSE All share index was up by 64.27 pts ending at 38,382.82.

Overall market volume dropped from 900.72 mn shares in the last session to 718.22 mn shares. Total traded value was recorded at Rs.16.69 bn on Monday. Topping the volume chart with 89.79 mn shares traded was K-Electric Limited (KEL +7.90%). Followed by Worldcall Telecom Limited (WTL +1.89%) and Fauji Foods Limited (FFL +6.02%). The scrips had 64.62 mn shares and 50.19 mn shares, exchanged, respectively.

Sector-wise, Banking sector (+75.93 pts), Investment Banking sector (+45.14 pts) and Fertilizer sector (+23.90 pts), drove the benchmark KSE 100 index forward. Company-wise, Dawood Hercules Corporation Limited (DAWH +46.60 pts), United Bank Limited (UBL +38.47 pts) and Meezan Bank Limited (MEBL +23.09 pts) were top points contributors.

The Power Generation and Distribution sector gained 0.35% in its cumulative market capitalization. The K-Electric Limited (KEL +7.90%), Engro Powergen Qadirpur Limited (EPQL +0.10%), Pakgen Power Limited (PKGP +5.73%) and Kohinoor Energy Limited (KOHE +7.49%), all closed in green.

Values as at 04:15 PM PST