DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed another volatile session on Friday flat. Indices traded in green for most part of the day, however, lost momentum towards the end of the session, eventually closing the day with minimal change. Volume also lowered compared to previous session. As per analysts, investors remained cautious ahead of the monetary policy meeting on Monday.

Global equity markets exhibited negative trend. Crude oil prices moved north, with WTI crude oil prices rising by 0.39% to $69.42. While Brent crude oil price went up by 0.34% to $72.94 (As at 4:39 PM PST, Source: Investing.com).

The benchmark KSE 100 index gained 0.52% WoW. During the session, it gathered 390.91 pts, reaching day’s high of 79,254.25. The index closed the session flat by positive 34.38 pts at 78,897.73. The KMI 30 index fell by 273.99 pts to end the day at 125,429.40. While the KSE All share index grew by 71.83 pts to finish the day at 50,814.84.

Investor participation shrank from 769.79 mn shares in the previous session to 742.95 mn shares. Toppers of the volume chart included, Worldcall Telecom Limited (WTL +5.97%), Pace (Pakistan) Limited (PACE +8.48%) and Fauji Foods Limited (FFL +5.43%). The scrips had 133.25 mn shares, 80.99 mn shares and 46.71 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index north included, Cement sector (+49.09 pts), Banking sector (+30.40 pts) and Cable and Electrical Goods sector (+19.53 pts). Company-wise, Kohat Cement Company Limited (KOHC +54.57 pts), Mari Petroleum Company Limited (MARI +35.35 pts) and Bank Alfalah Limited (BAFL +28.05 pts), were top points contributors.

The Cement sector gained 0.82% in its cumulative market capitalization. Lucky Cement Limited (LUCK +0.15%), Kohat Cement Limited (KOHC +10.00%) and Pioneer Cement Limited (PIOC +0.42%) and Cherat Cement Company Limited (CHCC +0.17%) all closed in green.

Values as at 05:15 P.M