DAILY MARKET WRAP

Volatile Session Ends in Green!

The Pakistan Stock Exchange (PSX) ended a roller-coaster session on Tuesday in green. Indices swung in both directions while volumes dropped from last close. Equity markets around the world showed negative trend. Crude oil prices moved south with WTI crude oil price falling by 0.75% to $81.89. While Brent crude oil price was down by 0.58% to $85.71. (As at 3:40 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index slipped into the red zone losing 131.37 recording intraday low of 48,293.03. It then transformed those losses into gains as it soared to day’s high of 48,794.13 with an addition of 369.73 pts. The index settled higher by 141.35 pts at 48,565.75. The KMI 30 index gathered 355.35 pts ending at 81,680.04. While the KSE All share index surged by 87.10 pts closing at 32,224.93.

Overall market volume fell from 367.80 mn shares in the previous session to 250.31 mn shares. Top contributors to the volume chart were, K-Electric Limited (KEL +10.18%), Worldcall Telecom Limited (WTL +2.50%) and Dewan Farooque Motor’s Limited (DFML +7.65%). The scrips had 32.22 mn shares, 25.23 mn shares and 16.92 mn shares exchanged, respectively. Out of the total scrips traded, 157 advanced, 149 declined and 236 remained unchanged.

Sectors driving the benchmark KSE 100 index north included, Technology and Communication Sector (109.64 pts), Fertilizer sector (37.44 pts) and Power Generation and Distribution sector (16.15 pts). Company-wise, Systems Limited (SYS 94.13 pts), Pakistan Petroleum Limited (PPL 23.33 pts) and Fauji Fertilizer Company Limited (FFC 20.81 pts), were top points contributors.

The Power Generation and Distribution sector gained 0.68% in its cumulative market capitalization. The Hub Power Company Limited (HUBC 0.16%), K-Electric Limited (KEL 10.18%), Nishat Chunain Power Limited (NCPL 1.98%) and Saif Power Limited (SPWL 0.23%), all closed in green.

Values as at 04:10 PM PST