DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a topsy-turvy session on Tuesday flat. Indices swung in both directions while investor participation lowered compared to previous session.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.21% to $77.42. While Brent crude oil price was down by 0.26% to $81.46. (As at 3:58 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index oscillated between intraday high of 63,622.00 (gaining 316.07 pts) and intraday low of 63,055.64 (losing 250.29 pts). It settled flat by negative 86.83 pts at 63,219.10. The KMI 30 index lost 356.98 pts closing the session at 105,612.26. While the KSE All share index slipped by 167.95 pts ending at 42,193.07.

Market volume contracted from 452.63 mn shares in the last session to 409.87 mn shares. The Bank of Punjab Limited (BOP +0.32%), K-Electric Limited (KEL +1.80%) and Worldcall Telecom Limited (WTL -3.05%), witnessed highest market volumes. The scrips had 47.57 mn shares, 40.63 mn shares and 25.80 mn shares exchanged, respectively.

Sectors dragging the benchmark KSE 100 index lower included Oil and Gas Exploration sector (-76.38 pts), Leather and Tanneries sector (-36.15 pts) and Oil and Gas Marketing sector (-32.56 pts). Company-wise, Oil and Gas Development Company Limited (OGDC -77.84 pts), Service Industries Limited (SRVI -36.15 pts) and United Bank Limited (UBL -34.64 pts), were top points snatchers.

The Oil and Gas Marketing sector lost 1.44% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO -2.61%), Attock Petroleum Limited (APL -1.04%) and Shell Pakistan Limited (SHELL -1.71%), all closed in red.

Values as at 05:12 PM