DAILY MARKET WRAP

Investors of the Pakistan Stock Exchange (PSX) witnessed another volatile session on Wednesday. Indices swung high and low until finally closing flat. Market volume improved when compared to the previous session.

Equity markets around the globe showed positive trend. Crude oil prices moved south with WTI crude oil prices falling by 0.72% to $77.70. While Brent crude oil price dropped by 0.59% to $81.98. (As at 3:59 PM PST, Source: Investing.com).

During the day, the benchmark KSE 100 index swung between intraday high of 56,846.68 (gaining 180.74 pts) and intraday low of 56,433.05 (losing 232.88 pts). It settled flat by positive 14.14 pts at 56,680.07. The KMI 30 index witnessed an increase of 240.77 pts ending at 97,328.70. While the KSE All share index grew by 126.42 pts closing at 37,669.26.

Total market volume inched up from 523.52 mn shares in the last session to 660.47 mn shares. Total traded value was recorded at Rs.24.34 bn mid-week. Worldcall Telecom Limited (WTL +3.70%) led the volume chart with 70.17 mn shares exchanged. Followed by Pakistan Refinery Limited (PRL +2.54%) wth 37.13 mn shares traded and Sui Northern Gas Pipelines Limited (SNGP -0.57%) with 22.48 mn shares exchanged.

Sectors contributing positively to the benchmark KSE 100 index included, Oil and Gas Exploration sector (+21.37 pts), Oil and Gas Marketing sector (+12.13 pts) and Food and Personal Care Products sector (+4.55 pts). Companies that drove the index forward included, Oil and Gas Development Company Limited (OGDC +10.64 pts), Pakistan State Oil Company Limited (PSO +9.98 pts) and Pakistan Petroleum Limited (PPL +9.86 pts).

The Oil and Gas Exploration sector gained 1.75% in its overall market capitalization. Oil and Gas Development Company Limited (OGDC +3.70%), Mari Petroleum Company Limited (MARI +0.14%), Pakistan Petroleum Limited (PPL +4.11%) and Pakistan Oilfields Limited (POL +0.25%), all closed in green.

Values as at 04:15 PM PST