DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed third consecutive session in green. Indices accumulated gains for most part of the day while volumes inched up from last close. Equity markets around the globe showed positive trend. Crude oil prices moved north with WTI crude oil price rising by 1.04% to 77.94. While Brent crude oil price was up by 1.08% to $84.59. (As at 3:57 PM PST, Source Investing.com).

As per latest data released by the State Bank of Pakistan, the Pakistani Rupee gained PKR 2.9558/USD (+1.07%) against the US Dollar on DoD basis ending the session at PKR 273.3270/US$

During the day, the benchmark KSE 100 index swayed between intraday high of 41,846.85 (gaining 324.09 pts) and intraday low of 41,404.62 (losing 118.14 pts). It settled higher by 200.56 pts at 41,723.32. The KMI 30 index closed at 72,446.05 with an addition of 493.80 pts. While the KSE All share index rose by 105.03 pts closing at 27,744.85.

Total traded volumes grew slightly from 295.24 mn shares in the previous session to 296.10 mn shares. Out of the total shares traded, 49.72% belonged to KSE 100 scrips. Top contributors to the volume chart were Worldcall Telecom Limited (WTL +6.50%), Oil and Gas Development Company Limited (OGDC +0.48%) and Pakistan Petroleum Limited (PPL -1.32%). The scrips had 64.32 mn shares, 22.26 mn shares and 15.89 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index north included, Technology and Communication sector (77.65 pts), Oil and Gas Exploration sector (46.51 pts) and Pharmaceutical sector (44.05 pts). Company-wise, Systems Limited (SYS 52.42 pts), Pakistan Oilfields Limited (POL 52.40 pts), and TRG Pakistan Limited (TRG 23.59 pts), were top points contributors.

The Chemical sector gained 2.06% in its cumulative market capitalization. Lucky Core Industries (LCI 6.60%), Engro Polymer and Chemical Limited (EPCL 1.35%), Lotte Chemical Pakistan Limited (LOTCHEM 4.92%) and Pakistan Oxygen Limited (PAKOXY 0.70%), all closed in green.

Pakistan Suzuki Motors Company Limited (PSMC +1.67%) in a notification to the Exchange stated that due to continued shortage of inventory, the company has decided to shutdown automobile plant from 13 February 2023 to 17 February 2023, however motorcycle plant will remain operative.

Values as at 04:08 PM PST