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DAILY MARKET WRAP
Positive Trend Continues at PSX!
The Pakistan Stock Exchange (PSX) ended the session on Monday in green, with the benchmark KSE 100 index settling above 46,000 mark. Indices swayed in both directions, while volumes contracted from last close. Equity markets around the globe showed positive trend. Crude oil prices moved north with WTI crude oil price rising by 0.51% to 77.49. While Brent crude oil price was up by 0.42% to $81.19. (As at 4:07 PM PST, Source Investing.com).
On the economic front, as per data released by the State Bank of Pakistan (SBP), the Pakistani Rupee lost PKR 1.1117/USD (0.39%) against the US Dollar on DoD basis ending the session at PKR 287.9227/US$.
The benchmark KSE 100 index swung between intraday high of 46,195.71 (gaining 274.97 pts) and intraday low of 45,872.67 (losing 48.06 pts). The index settled higher by 134.08 pts at 46,054.81. The KMI 30 index gained 74.98 pts closing at 77,095.13. While the KSE All share index was up by 116.36 pts ending the session at 30,847.61.
Overall market volumes deteriorated from 504.42 mn shares in the last session to 298.20 mn shares. Highest participation was witnessed in Worldcall Telecom Limited (WTL -3.43%), K-Electric Limited (KEL +5.42%) and Unity Foods Limited (UNITY +0.90%). The scrips had 35.85 mn shares, 32.40 mn shares and 31.43 mn shares traded, respectively.
Sectors lifting the benchmark KSE 100 index higher included, Banking sector (113.31 pts), Power Generation and Distribution (28.46 pts) and Oil and Gas Marketing sector (25.56 pts). Company-wise, MCB Bank Limited (MCB 46.10 pts), United Bank Limited (UBL 37.79 pts) and Meezan Bank Limited (MEBL 27.96 pts), drove the index north.
The Refinery sector went up by 1.43% in its cumulative market capitalization. Attock Refinery Limited (ATRL 2.83%), National Refinery Limited (NRL 2.09%), Pakistan Refinery Limited (PRL 0.61%), all closed in green.
Values as at 04:13 PM PST