DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a volatile session on Tuesday flat. Indices swung between both zones before finally closing with minimal change while volume increased slightly compared to previous session.

Equity markets worldwide showed positive trend. Crude oil prices moved north with WTI crude oil price rising by 0.12% to $83.07. While Brent crude oil price was up by 0.16% to $86.86. (As at 1:59 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index oscillated between intraday low of 66,573.63 (losing 222.69 pts) and intraday high of 66,959.55 (gaining 163.22 pts). The index settled flat by positive 89.94 pts at 66,886.26. The KMI 30 index slipped by 294.21 pts closing the session at 111,635.61. While the KSE All share index was down by 66.89 pts closing the day at 44,302.86.

Investor participation inched up from 238.61 mn shares in the previous session to 239.46 mn shares. Toppers of the volume chart were Worldcall Telecom Limited (WTL +3.85%), Pakistan Telecommunication Company Limited (PTC –2.83%) and Pakistan Reinsurance Company Limited (PAKRI -3.01%). The scrips had 32.34 mn shares, 27.13 mn shares, and 13.13 mn shares exchanged, respectively.

Sectors driving the benchmark KSE 100 index north included, Banking sector (+103.13 pts), Investment Banking sector (+79.47 pts) and Technology and Communication sector (+47.79 pts). Company-wise, Dawood Hercules Corporation Limited (DAWH +80.51 pts), Systems Limited (SYS +59.03 pts) and Fauji Fertilizer Company Limited (FFC +25.73 pts), were top points contributors.

The Banking sector gained 0.63% in its cumulative market capitalization. Meezan Bank Limited (MEBL +0.39%), MCB Bank Limited (MCB +0.90%), Standard Chartered Bank (Pak) Limited (SCBPL +6.51%) and Allied Bank Limited (ABL +1.06%), all closed in green.

Values as at 02:15 PM