DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) ended a volatile session on Tuesday flat. Indices traded in red for most part of the day while volumes decreased from last close. Equity markets around the world showed positive trend. Crude oil prices moved north with WTI crude oil price rising by 0.56% to $80.19. While Brent crude oil price was up by 0.38% to $84.50. (As at 2:44 PM PST, Source: Investing.com).

On the economic front, as per data released by the Pakistan Automotive Manufacturers Association (PAMA), a total of 7,201 units were sold by PAMA members in the month of March 2023 as compared to 22,799 units in SPLY. Whereas 3,642 units were sold in February 2023.

Gaining 84.09 pts, the benchmark KSE 100 index recorded intraday high of 39,919.99. It fell to intraday low of 39,723.01 losing 112.89 pts. The index settled flat by negative 31.19 pts at 39,804.71. The KMI 30 index plunged by 12.84 pts closing at 69,345.37. While the KSE All Share index went up by 8.07 pts settling at 26,287.57.

Overall market volumes depreciated from 105.46 mn shares in last session to 59.56 mn shares. Highest participation was witnessed in K-Electric Limited (KEL -0.50%), Worldcall Telecom Limited (WTL -2.52%) and Maple Leaf Cement Factory Limited (MLCF +1.77%). The scrips had 9.27 mn shares, 7.14 mn shares and 3.10 mn shares traded, respectively.

Sectors dragging the benchmark KSE 100 lower included, Banking sector (24.17 pts), Fertilizer sector (16.25 pts) and Power Generation and Distribution sector (8.98 pts). Company-wise, Engro Corporation Limited (ENGRO 13.46 pts), United Bank Limited (UBL 8.21 pts) and The Hub Power Company Limited (HUBC 7.37 pts), were top negative contributors.

The Power Generation and Distribution sector lost 0.40% in its cumulative market capitalization. The Hub Power Company Limited (HUBC 0.42%), K-Electric limited (KEL 0.50%), Kot Addu Power Company Limited (KAPCO 0.29%) and Engro Powergen Qadirpur Limited (EPQL 5.77%), all closed in red.

Values as at 02:45 PM PST