DAILY MARKET WRAP

Negative trend continued at the Pakistan Stock Exchange (PSX) for the fourth consecutive session this week. Indices swung between both red and green zones before finally settling in the red zone. Volume inched up compared to prior session.

Global equity markets showed mixed trend. Crude oil prices moved north, with WTI crude oil rising by 0.42% to $74.38. While Brent crude oil was up by 0.33% to $78.67. (As at 3:57 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index oscillated between intraday high of 74,593.33 (gaining 373.89 pts) and intraday low of 73,768.40 (losing 451.04 pts). It closed the day lower by 356.51 pts at 73,862.93. The KMI 30 index shed 343.30 pts to end the day at 122,478.75. While the KSE All share index settled at 292.10 with a loss of 47,670.60 pts.

Investor activity increased from 348.45 mn shares in the preceding session to 352.47 mn shares. Worldcall Telecom Limited (WTL -0.76%) Kohinoor Spinning Mills (KOSM +4.24%) and Dewan Farooque Motors Limited (DFML -6.94%) witnessed highest market volumes. The scrips had 17.61 mn shares, 14.86 mn shares and 13.69 mn shares traded, respectively.

Sector-wise, top negative contributors to the benchmark KSE 100 index were, Banking sector (-88.62 pts), Oil and Gas Exploration sector (-51.22 pts) and Fertilizer sector (-49.53 pts). Company-wise, Service Industries Limited (SRVI -34.02 pts), Fauji Fertilizer Company Limited (FFC -32.74 pts) and Oil and Gas Development Company Limited (OGDC -31.83 pts), drove the index south.

The Refinery sector lost 2.00% in its cumulative market capitalization. Attock Refinery Limited (ATRL -3.07%), Cynergyico PK Limited (CNERGY -1.19%), National Refinery Limited (NRL -2.39%) and Pakistan Refinery Limited (PRL -3.44%), all closed in red.

Values as at 04:12 PM