DAILY MARKET WRAP

Positive sentiments brewed at the Pakistan Stock Exchange (PSX) on Thursday. Indices swayed in both directions until finally closing in green, while volumes fell form last close. Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.08% to $76.47. While Brent crude oil price was down by 0.11% to $82.75. (As at 4:02 PM PST, Source: Investing.com).

On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani Rupee lost PKR 2.5267/USD (0.94%) against the US Dollar on DoD basis ending the session at PKR 271.3550/US$.

The benchmark KSE 100 index oscillated between intraday low of 40,444.91 (losing 175.04 pts) and intraday high of 40,826.67 (gaining 206.72 pts). The index settled higher by 113.56 pts at 40,733.51. The KMI 30 index surged by 557.51 pts closing at 69,928.63. While the KSE All Share index inched up by 47.37 pts settling at 27,132.42.

Overall market volumes went down from 130.97 mn shares in last session to 123.06 mn shares. Highest participation was witnessed in Worldcall Telcom Limited (WTL +2.63%) with 20.61 mn shares traded. Followed by Pakistan Petroleum Limited (PPL -1.67%) and Dewan Farooque Motors limited (DFML +2.62%). The scrips had 12.89 mn shares and 6.19 mn shares traded, respectively. Out of the total scrips traded 151 advanced, 143 declined while 253 remained unchanged.

Sectors lifting the benchmark KSE 100 index higher included, Fertilizer sector (56.40 pts), Power Generation and Distribution sector (33.06 pts) and Cement sector (31.73 pts). Company-wise, Engro Corporation Limited (ENGRO 69.45 pts), Lucky Cement Limited (LUCK 34.97 pts) and The Hub Power Company Limited (HUBC 33.65 pts), were top points contributors.

The Power Generation and Distribution sector gained 1.54% in its cumulative market capitalization. The Hub Power Company Limited (HUBC 2.04%), K-Electric Limited (KEL 0.47%), Engro Powergen Qadirpur Limited (EPQL (0.70%), all closed positive.

Values as at 04:11 PM PST