DAILY MARKET WRAP

Bulls reappeared at the Pakistan Stock Exchange (PSX) on Thursday. Indices traded within a narrow range while volume shrank compared to previous session.

Global equity markets showed mixed trend. Crude oil prices moved north, with WTI crude oil rising by 0.32% to $82.36. While Brent crude oil was down by 0.46% to $85.47. (As at 3:59 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index swayed between intraday low of 79,708.87 (losing 132.69 pts) and intraday high of 80,114.73 (gaining 273.17 pts). It closed the session higher by 150.80 pts at 79,992.35. The KMI 30 index grew by 479.80 pts to end the day at 127,598.75. While the KSE All share index depreciated by 56.57 pts to finish the day at 51,057.96.

Investor activity dropped from 495.55 mn shares the in the last session to 386.38 mn shares. Agritech Limited (AGL +0.41%), The Hub Power Company Limited (HUBC +3.38%) and Airlink Communication Limited (AIRLINK +5.92%), topped the volume chart. The scrips had 22.04 mn shares, 18.62 mn shares and 16.82 mn shares traded, respectively.

Sectors lifting the benchmark KSE 100 index higher included, Power Generation and Distribution sector (+161.10 pts), Fertilizer sector (+90.84 pts), Technology and Communication Exploration sector (+60.78 pts). Company-wise, The Hub Power Company Limited (HUBC +165.59 pts), Fauji Fertilizer Company Limited (FFC +77.74 pts) and Systems Limited (SYS +72.77 pts), were top points contributors.

The Technology and Communication sector gained 1.71% in its cumulative market capitalization. Systems Limited (SYS +3.06%), Octopus Digital Limited (OCTOPUS +2.74%), Avanceon Limited (AVN +0.16%) and Air Link Communication (AIRLINK +5.92%), all closed in green.

Values as at 04:15 PM