DAILY MARKET WRAP

Despite initial gains, the Pakistan Stock Exchange (PSX) ended the session on Tuesday flat. Indices traded predominantly in positive territory before settling unchanged at close. Trading volume increased compared to previous session. Analysts noted that investors exhibited caution amidst lingering political uncertainties, opting to wait for clearer signals before adjusting their positions.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.80% to $77.83. While Brent crude oil price was down by 0.66% to $83.01. (As at 3:52 PM PST, Source: Investing.com).

Clenching 777.76 pts, the benchmark KSE 100 index climbed to day’s high of 61,237.51. It then slipped briefly into the red zone losing 38.91 pts and recording day’s low of 60,420.84. The index closed flat by positive 4.49 pts at 60,464.24. The KMI 30 index shed 140.99 pts ending the session at 100,283.89. While the KSE All share index lost 56.36 pts to close the day at 40,736.57.

Investor activity grew from 261.48 mn shares in the last session to 364.24 mn shares. Out of the total scrips traded 64.48% belonged to KSE 100 scrips. Volume leaders of the session were, The Bank of Punjab Limited (BOP +4.15%), Pakistan International Airlines Limited (PIAA +0.36%) and K-Electric Limited (KEL -0.93%). The scrips had 117.02 mn shares, 12.90 mn shares and 19.17 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 index higher included Pharmaceutical sector (+94.60 pts), Power Generation and Distribution sector (+71.80 pts) and Technology and Communication sector (+59.30 pts). Company-wise, The Hub Power Company Limited (HUBC +65.55 pts), Systems Limited (SYS +45.02 pts) and Pakistan State Oil Company Limited (PSO +34.20 pts), were top points contributors.

The Power Generation and Distribution sector gained 1.64% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +1.99%), Kot Addu Power Company Limited (KAPCO +1.22%), Pakgen Power Limited (PKGP +2.00%) and Nishat Power Limited (NPL +0.16%), all closed in green.

Values as at 04:13 PM