DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a volatile session on Thursday with minimal change. Indices fluctuated throughout the day before stabilizing. Trading volume also remained relatively steady. According to analysts, investors were cautious and refrained from making significant moves ahead of next week's budget announcement.

Global equity markets showed negative trend. Crude oil prices moved south, with WTI crude oil falling by 0.38% to $78.93. While Brent crude oil was down by 0.44% to $83.06. (As at 3:41 PM PST, Source: Investing.com).

During the session, the benchmark KSE 100 index touched day’s high of 75,300.03 gaining 463.73 pts before losing momentum and hitting day’s low of 74,585.35 (down by 250.95 pts). It ultimately settled flat by positive 41.82 pts at 74,878.12. The KMI 30 index witnessed an increase of 420.33 pts ending the day at 123,733.54. While the KSE All share index slipped by 84.83 pts ending the session at 48,334.64.

Investor activity inched up slightly from 407.71 mn shares in the previous session to 410.45 mn shares. Toppers of the volume chart included, Fauji Cement Company Limited (FCCL +5.53%), Dewan Cement Limited (DCL +9.18%) and Dewan Farooque Motors Limited (DFML +7.99%). The scrips had 42.52 mn shares, 26.32 mn shares and 25.94 mn shares traded, respectively.

Sectors adding gains to the benchmark KSE 100 index consisted of, Cement sector (+130.07 pts), Automobile Assembler sector (+57.44 pts) and Leather and Tanneries sector (+43.20 pts). Companies that drove the index forward included, Millat Tractors Limited (MTL +59.09 pts), Service Industries Limited (SRVI +43.20 pts) and Fauji Cement Company Limited (FCCL +32.79 pts).

The Cement sector gained 2.22% in its cumulative market capitalization. Lucky Cement Limited (LUCK +1.38%), Fuji Cement Company Limited (FCCL +5.48%), Kohat Cement Company Limited (KOHC +2.27%) and Maple Leaf Cement Factory Limited (MLCF +2.32%), all closed in green.

Values as at 04:13 PM PST