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DAILY MARKET WRAP
Another Session Ends Flat!
The Pakistan Stock Exchange (PSX) ended another session on Tuesday flat. Indices traded in both directions until finally settling flat. Volumes contracted from last close. Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.45% to $74.41. While Brent crude oil price was down by 0.39% to $78.81. (As at 4:27 PM PST, Source: Investing.com).
On the economic front, as per data released by the State Bank of Pakistan (SBP), Foreign Direct Investment (FDI) declined by 57.82% on YoY basis to US$114.33 mn. On MoM basis, FDI witnessed a fall of 23.58%. Highest investment came in from China. Sector-wise, Power sector attracted the highest amount.
During the day, the benchmark KSE 100 index climbed to day’s high of 45,240.21 (gaining 197.60 pts). It then fell to day’s low of 44,848.39 (losing 194.22 pts). The index settled flat by negative 33.27 pts at 45,009.34. The KMI 30 index fell by 359.10 pts at 75,790.56. While the KSE All share inched up by 16.57 pts ending the session at 30,450.63.
Total traded volumes fell from 314.69 mn shares in the previous session to 254.38 mn shares. Top contributors to the volume chart were, The Bank of Punjab (BOP -5.15%), Worldcall Telecom (WTL 0.00%) and Waves Home Appliance Limited (WHALE +18.62%). The scrips had 29.94 mn shares, 22.85 mn shares and 8.60 mn shares traded, respectively.
Sectors dragging the benchmark KSE 100 index downwards included, Cement sector (42.88 pts), Fertilizer sector (42.69 pts) and Oil and Gas Marketing sector (41.01 pts). Companies that drove the index south included, Pakistan Petroleum Limited (PPL 39.42 pts), Pakistan State Oil Company Limited (PSO 29.50 pts) and Bank Al Habib Limited (BAHL 25.00 pts).
The Oil and Gas Marketing sector went down by 1.87% in its cumulative market capitalization. Pakistan State Oil Company Limited (PSO 2.70%), Shell Pakistan Limited (SHEL 3.21%), Sui Northern Gas Pipe line Limited (SNGP 1.14%) and Hi-Tech Lubricants Limited (HTL 1.65%), all closed negative.
Values as at 04:37 PM PST