DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) concluded first trading session of the week with marginal fluctuations. Initially, indices showed positive movement, but momentum gradually diminished, resulting in a flat finish. Volume declined compared to previous session. Analysts attributed the cautious trading sentiment to investor apprehension regarding the monetary policy meeting later today.

Equity markets worldwide showed negative trend. Crude oil prices moved north with WTI crude oil price rising by 0.69% to $81.14. While Brent crude oil price was up by 0.55% to $85.81. (As at 1:59 PM PST, Source: Investing.com).

The benchmark KSE 100 index jumped to day’s high of 65,148.36 with an addition of 331.90 pts. It then slipped to day’s low of 64,811.92 losing 4.55 pts. The index ultimately settled flat by 74.04 pts at 64,890.51. The KMI 30 index inched up by 43.66 pts ending at 110,103.97. While the KSE All share index witnessed a minor increase of 4.66 pts to close the day at 43,161.67.

Overall market volume shrank from 259.36 mn shares in the previous session to 211.47 mn shares. Volume leaders of the session were, Worldcall Telecom Limited (WTL +1.49%), Hascol Petroleum Limited (HASCOL -3.27%) and Telecard Limited (TELE +3.81%). The scrips had 16.61 mn shares, 16.27 mn shares and 14.68 mn shares traded, respectively. Out of the total scrips traded, 139 advanced, 156 declined and 247 remained unchanged.

Sectors adding gains to the benchmark KSE 100 index included, Fertilizer sector (+77.99 pts), Power Generation and Distribution sector (+34.20 pts) and Banking sector (+23.67 pts). Companies contributing positively to the index included Fauji Fertilizer Company Limited (FFC +51.94 pts), Meezan Bank Limited (MEBL +48.26 pts) and The Hub Power Company Limited (HUBC +34.14 pts).

The Power Generation and Distribution sector gained 0.74% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +0.73%), Engro Powergen Qadirpur Limited (EPQL +0.55%), Pakgen Power Limited (PKGP +4.03%) and Nishat Power Limited (NPL +0.67%), all closed in green.

Values as at 02:12 PM