DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) wrapped up the first trading day of the week with little movement in the indices, resulting in a flat finish. Trading volumes showed a notable rise in contrast to the prior session.

Global equity market exhibited a negative trend. Meanwhile, crude oil prices displayed resilience with WTI crude oil price rising by 0.14% to $90.16. While Brent crude oil price was up by 0.09% to $92.04. (As at 3:54 PM PST, Source: Investing.com).

Gaining 169.11 pts, the benchmark KSE 100 index stretched to day’s high of 46,590.26. It then lost momentum slipping to day’s low of 46,305.88 falling by 115.27 pts. The index closed flat by negative 27.48 pts at 46,393.68. The KMI 30 index shed 92.95 pts ending at 78,137.74. While the KSE All share index was up by 79.82 pts ending at 31,082.81.

Market volumes appreciated from 169.94 mn shares in the last session to 195.32 mn shares. Out of the total scrips traded, 45.79% belonged to KSE 100 scrips. Pakistan International Airlines Corporation Limited (PIAA +22.83%) topped the volume chart with 29.60 mn shares traded. Followed by Pak Elektron Limited (PAEL +7.49%) and Worldcall Telecom Limited (WTL -0.88%). The scrips had 20.50 mn shares and 8.94 mn shares exchanged, respectively.

Sectors that exerted downward pressure on the benchmark KSE 100 index included, Banking sector (-78.32 pts), Automobile Assembler sector (-36.83 pts) and Fertilizer sector (-25.89 pts). Company-wise, Millat Tractors Limited (MTL -45.06 pts), Habib Bank Limited (HBL -35.24 pts) and Systems Limited (DAWH -19.10 pts), were top negative contributors.

The Automobile Assembler sector decreased by 2.65% in its cumulative market capitalization. Millat Tractors Limited (MTL -3.83%), Indus Motor Company Limited (INDU -0.29%), Atlas Honda Limited (ATLH -2.55%), Honda Atlas Cars (Pakistan) Limited (HCAR -0.49%), all closed in red.

Values as at 04:08 PM PST