DAILY MARKET WRAP

Bears took over the Pakistan Stock Exchange (PSX) on Thursday ending the session in red. Indices slipped lower and lower for most part of the day while investor participation showed very little change from previous close.

Equity markets around the globe showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.06% to $93.62. While Brent crude oil price was down by 0.26% to $94.11. (As at 3:51 PM PST, Source: Investing.com).

The benchmark KSE 100 index swung between intraday high of 46,469.60 (gaining 104.56 pts) and intraday low of 46,177.50 (losing 187.54 pts). The index settled lower by 132.45 pts at 46,232.59. The KMI 30 index dropped 403.87 pts closing at 77,669.37. While the KSE All share index slipped by 91.29 pts ending at 31,158.71.

Total traded volume was recorded at 177.45 mn shares as compared to 177.43 mn shares in the last session. Top contributors to the volume chart were, Oil and Gas Development Company Limited (OGDC -1.34%), Worldcall Telecom Limited (WTL +0.00%) and Agritech Limited (AGL +4.61%). The scrips had 10.86 mn shares, 9.63 mn shares and 9.51 mn shares exchanged, respectively.

Sectors painting the benchmark KSE 100 index in red included, Technology and Communication sector (-115.87 pts), Banking sector (-60.99 pts) and Investment Banking sector (-9.82 pts). Company-wise, Systems Limited (SYS -85.42 pts), Oil and Gas Development Companies Limited (OGDC -28.89 pts), TRG Pakistan Limited (TRG -27.01 pts), were top negative contributors.

The Technology and Communication sector lost -2.89% in its cumulative market capitalization. Systems Limited (SYS -4.21%), TRG Pakistan Limited (TRG -2.44%), Avanceon Limited (AVN -2.15%) and Air Link Communication Limited (AIRLINK -2.11%), all closed in red.

Values as at 04:15 PM PST