DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) ended a turbulent session on Friday with little change, as the benchmark KSE 100 index briefly surged past the 80,000 mark during the day before retreating to close flat due to increased selling pressure. Trading volume rose compared to previous session.

Global equity markets showed mixed trend. Crude oil prices moved south, with WTI crude oil falling by 0.11% to $81.20. While Brent crude oil was up by 0.12% to $85.61. (As at 4:45 PM PST, Source: Investing.com).

Gaining 1,258.34 pts, the benchmark KSE 100 index jumped to record-high of 80,059.87. It then lost 632.51 pts and slipped to day’s low of 78,169.03. The index closed the session flat by positive 8.96 pts at 78,810.49. The KMI 30 index witnessed a decrease of 402.29 pts to end the day at 126,778.61. While the KSE All share index shed 57.76 pts to end the session at 49,817.95.

Investor activity went up from 452.29 mn shares the in the last session to 470.86 mn shares. Worldcall Telecom Limited (WTL -3.05%), Hum Network Limited (HUMNL +5.70%) and Pervez Ahmed Consultancy Services Limited (PASL +17.20%) dominated the volume chart. The scrips had 43.05 mn shares, 41.93 mn shares and 37.35 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index included Power Generation and Distribution sector (+371.23 pts), Tobacco sector (+30.26 pts) and Chemical sector (+28.00 pts). Company-wise, The Hub Power Company Limited (HUBC +383.95 pts), United Bank Limited (UBL +85.09 pts) and Habib Bank Limited (HBL +69.66 pts), were top points contributors.

The Refinery sector gained 1.16% in its cumulative market capitalization. Attock Refinery Limited (ATRL +1.84%), National Refinery Limited (NRL +1.04%) and Pakistan Refinery Limited (PRL +1.83%), all closed in green.

Values as at 05:12 PM