DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) concluded a volatile session with minimal change. Indices accumulated gains for most part of the day until finally closing flat. Volume rose compared to previous session.

Global equity markets showed positive trend. Crude oil prices moved in the opposite direction, with WTI crude oil falling by 0.41% to $78.16 while Brent crude oil was down by 0.42% to $82.98. (As at 3:46 PM PST, Source: Investing.com).

Losing 56.28 pts, the benchmark KSE 100 index slipped to day’s low of 72,707.96. It then gained momentum and rallied to day’s high of 73,260.09 gaining 495.85 pts. The index closed the session flat by negative 3.04 pts at 72,761.20. The KMI 30 index fell by 789.11 pts closing the session at 121,370.92. While the KSE All share index depreciated by 115.47 pts to settle at 47,235.68.

Investor activity grew from 578.07 mn shares in the previous session to 621.62 mn shares. Pak Elektron Limited (PAEL +7.04%) continued to shine as volume leader with 64.15 mn shares traded. Followed by Fauji Foods Limited (FFL +3.06%) and Worldcall Telecom Limited (WTL +1.59%). The scrips had 40.15 mn shares and 29.97 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index south included, Oil and Gas Exploration sector (-147.02 pts), Fertilizer sector (-79.26 pts), and Cement sector (-60.08 pts). Company-wise, Pakistan Petroleum Limited (PPL -67.44 pts), Engro Fertilizers Limited (EFERT -45.83 pts) and Oil and Gas Exploration Limited (OGDC -43.49 pts), were top negative contributors.

The Cement sector lost 1.02% in its cumulative market capitalization. Lucky Cement Limited (LUCK -1.16%), Bestway Cement Limited (BWCL -0.42%), Kohat Cement Company Limited (KOHC -1.88%) and Fauji Cement Company Limited (FCCL -2.00%), all closed in red.

Values as at 04:12 PM