DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) experienced a range-bound session on Thursday. Indices swung high and low before finally closing flat. Volume shrank in contrast to previous session.

Global equity markets showed negative trend. Crude oil prices moved north, with WTI crude oil rising by 0.81% to $79.63 while Brent crude oil was up by 0.69% to $84.16. (As at 3:46 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index oscillated between intraday high of 72,889.78 (gaining 287.97 pts) and intraday low of 72,325.35 (losing 276.47 pts). It closed the session flat by positive 56.24 pts at 72,658.05. The KMI 30 index fell by 88.40 pts closing the day at 120,967.97. While the KSE All shares index grew by 169.84 pts to end the day at 47,272.22.

Investor activity contracted from 970.04 mn shares in the previous session to 674.70 mn shares. Worldcall Telecom Limited (WTL +0.00%) continued to reign as the volume leader with 175.15 mn shares exchanged. Next in line were, Pak Elektron Limited (PAEL +7.20%) and K-Electric Limited (KEL +0.21%). The scrips had 40.25 mn shares and 31.26 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index forward included, Technology and Communication sector (+103.82 pts), Pharmaceutical sector (+84.64 pts) and Cement sector (+57.99 pts). Company-wise, TRG Pakistan Limited (TRG +49.82 pts), Service Industries Limited (SRVI +39.87 pts) and Systems Limited (SYS +37.88 pts), were top points contributors.

The Cement sector gained 1.00% in its cumulative market capitalization. Bestway Cement Limited (BWCL +1.40%), Fuji Cement Company Limited (FCCL +3.64%), Kohat Cement Company Limited (KOHC +1.77%) and Maple Leaf Cement Factory Limited (MLCF +1.60%), all closed in green.

Values as at 04:13 PM