DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) ended a volatile session on Friday flat. Indices accumulated gains for most part of the day while volumes appreciated compared to previous session. Analysts attributed the early session rally to the impact of the IMF board meeting. However, profit-taking later in the day resulted in decreased momentum, ultimately leading to a flat close for the session.

Worldwide equity markets displayed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 4.04% to $74.93. While Brent crude oil price was up by 3.86% to $80.40. (As at 4:58 PM PST, Source: Investing.com).

The benchmark KSE 100 index gained 0.19% WoW. During the session it swung between intraday high of 65,356.85 (gaining 739.28 pts) and intraday low of 64,491.08 (losing 126.49 pts). It ended the day flat by positive 20.07 pts at 64,637.64. The KMI 30 index appreciated by 184.29 pts ending the week at 109,345.68. While the KSE All share index inched up by 29.45 pts closing the session at 43,740.13.

Overall volume surged from 586.12 mn shares in the last session to 643.23 mn shares. K-Electric Limited (KEL +0.33%) maintained its position as volume leader all week long, ending last session of the week with 142.49 mn shares traded. Followed by Pakistan International Bulk Terminal Limited (PIBTL +5.87%) and Worldcall Telecom Limited (WTL -0.70%). The scrips 77.95 mn shares and 27.01 mn shares traded, respectively.

Sectors contributing positively to the benchmark KSE 100 index included, Banking sector (+84.72 pts), Oil and Gas Exploration sector (+84.14 pts) and Fertilizer sector (+12.86 pts). Company-wise, MARI Petroleum Company Limited (MARI +52.62 pts), Engro Fertilizers Limited (EFERT +32.70 pts) and Pakistan Petroleum Limited (PPL +23.56 pts), were top points contributors.

The Oil and Gas Exploration sector gained 0.91% in its cumulative market capitalization. The Oil and Gas Development Company Limited (OGDC +0.37%), Pakistan Petroleum Limited (PPL +0.88%) and Mari Petroleum Company Limited (MARI +2.88%), all closed in green.

Values as at 05:06 PM