DAILY MARKET WRAP

The Pakistan Stock exchange (PSX) closed a rocky session flat on Thursday. Indices oscillated in both directions while volumes appreciated from last close.

Equity markets around the globe showed mixed trend. Crude oil prices moved south with WTI crude oil price falling by 0.59% to $87.02. While Brent crude oil price was down by 0.47% to $90.17 (As at 3:48 PM PST, Source: Investing.com).

Gathering 228.23, the benchmark KSE 100 index jumped to day’s high of 46,035.81. It then lost momentum plunging to day’s low of 45,703.53, losing 104.04 pts. It managed to minimize losses by closing lower at 45,757.24 (down by 50.34 pts). The KMI 30 index gained 150.77 pts ending at 76,508.49. While the KSE All share index was up by 39.23 pts ending at 30,509.25.

Overall market volumes recorded an increase from 138.58 mn shares in the previous session to 176.74 mn shares. Pakistan Petroleum Limited (PPL +1.88%), Worldcall Telecom Limited (WTL -0.86%) and Kot Addu Power Company Limited (KAPCO +1.41%) secured top positions on the volume chart. The scrips had 13.14 mn shares, 10.99 mn shares and 10.98 mn shares traded, respectively.

Sectors dragging the benchmark KSE 100 index lower included, Banking sector (-61.49 pts), Cement sector (-55.03 pts) and Technology and Communication sector (-22.45 pts). Company-wise, Lucky Cement Limited (LUCK -32.26 pts), United Bank Limited (UBL -25.93 pts) and Bank Al Falah Limited (BAFL -20.70 pts), contributed negatively to the index.

The Cement sector lost 1.97% in its cumulative market capitalization. Maple Leaf Cement Factory Limited (MLCF -0.86%), Kohat Cement Company Limited (KOHC -1.36%), Lucky Cement Limited (LUCK -2.73%) and Bestway Cement Limited (BWCL -1.19%), all closed in red.

Values as at 04:09 PM PST