DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a bumpy session on Monday flat. Indices traded in green for most part of the day but experienced a slowdown towards the end of the session, eventually settling with negligible fluctuations. Trading activity intensified compared to previous session.

Worldwide equity markets displayed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.15% to $77.89. While Brent crude oil price was down by 0.13% to $81.97. (As at 3:47 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index surged to day’s high of 66,119.34 gaining 325.58 pts. It then lost 95.00 pts, falling to day’s low of 65,698.76. The index settled flat by negative 38.45 pts at 65,755.31. The KMI 30 index surged by 171.23 pts ending the day at 111,499.68. While the KSE All share index went up by 30.80 pts closing the day at 43,707.91.

Investor participation appreciated from 480.94 mn shares in the last session to 545.92 mn shares. Cynergyico PK Limited (CNERGY +4.50%), Hascol Petroleum Limited (HASCOL +8.42%) and Kohinoor Spinning Mills Limited (KOSM -3.80%), witnessed highest market volumes. The scrips had 96.54 mn shares, 52.27 mn shares and 27.35 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index towards red territory included, Investment Banking sector (-112.23 pts), Banking sector (-64.94 pts) and Miscellaneous sector (-41.35 pts). Company-wise, Dawood Hercules Corporation Limited (DAWH -110.30 pts), Pakistan Services Limited (PSEL -38.10 pts) and Nestle Pakistan Limited (NESTLE -33.01 pts), were top negative contributors.

The Banking sector lost 0.40% in its cumulative market capitalization. Meezan Bank Limited (MEBL -0.79%), MCB Bank Limited (MCB -1.10%), United Bank Limited (UBL -0.46%) and Standard Chartered Bank (Pak) Limited (SCBPL -1.23%), all closed in red.

Values as at 04:12 PM