DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) failed to maintain its upward trajectory leading to a week's end with minimal gains. Despite a strong start, indices weakened towards the end of the session, eventually closing flat. Trading volume witnessed a decrease from previous day.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.19% to $73.81. While Brent crude oil price was down by 0.20% to $78.94. (As at 4:57 PM PST, Source: Investing.com).

The benchmark KSE 100 index lost 2.10% WoW. During the session, it gathered 709.46 pts soaring to day’s high of 63,911.86. The index settled flat by positive 79.83 pts at 63,282.23. The KMI 30 index gathered 165.26 pts ending the week at 106,569.45. While the KSE All share index inched up by 45.88 pts concluding the week at 42,859.42.

Investor activity decreased from 445.66 mn shares in the last session to 287.28 mn shares (down by 35.52%). Volume leaders of the session were, K-Electric Limited (KEL -0.55%), Pakistan International Airlines Corp (PIAA +4.15%), and Pakistan Telecommunication Company Limited (PTC -3.02%). The scrips had 49.81 mn shares, 43.35 mn shares and 14.16 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 index higher were, Fertilizer sector (+65.16 pts), Oil and Gas Exploration sector (+23.39 pts) and Automobile Assembler sector (+19.30 pts). Company-wise, Engro Corporation Limited (ENGRO +43.68 pts), Mari Petroleum Company Limited (MARI +21.22 pts) and Fauji Fertilizer Company Limited (FFC +21.04 pts), were top points contributors.

The Power Generation and Distribution sector gained 0.20% in its cumulative market capitalization. The Hub Power Company Limited (HUBC +0.22%), K-Electric Limited (KEL +1.65%), Kot Addu Power Company Limited (KAPCO +0.27%) and Nishat Power Limited (NPL +0.68%), all closed in green.

Values as at 05:15 PM