DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed last trading session of the week on a positive note. Indices swayed in both directions, while volumes dropped from last close. Equity markets around the globe showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 2.76% to $70.45. While Brent crude oil price was up by 2.68% to $74.44. (As at 5:11 PM PST, Source: Investing.com).

On economic front, as per data released by State Bank of Pakistan (SBP), Pakistan's Liquid Foreign Exchange Reserves appreciated by US$19 mn on WoW basis. Net reserves with State Bank of Pakistan fell by US$6 mn on weekly basis. While net reserves with Banks up by US$ 25 mn.

The benchmark KSE 100 index lost 1.59% on WoW basis. The benchmark KSE 100 index swung between intraday low of 41,962.90 (losing 130.90 pts) and intraday high of 42,323.29 (gaining 229.49 pts). The index settled higher by 148.18 pts at 42,241.98. The KMI 30 index inclined by 79.73 pts closing at 72,993.48. While the KSE All Share index inched up by 50.88 pts settling at 27,876.27.

Overall market volumes decreased from 255.22 mn shares in the previous session to 177.12 mn shares. Top contributors to the volume chart were, Worldcall Telecom Limited (WTL -0.82%), Sui Northern Gas Pipelines Limited (SNGP +6.14%) and TPL Properties Limited (TPLP -1.47%). The scrips had 17.01 mn shares, 13.67 mn shares and 9.69 mn shares traded, respectively.

Sectors propelling the benchmark KSE 100 index forward, included Banking sector (56.61 pts), Power Generation and Distribution sector (55.97 pts) and Fertilizer sector (28.05 pts). Company-wise, The Hub Power Company Limited (HUBC 56.08 pts), Engro Corporation Limited (ENGRO 23.63 pts) and Sui Northern Gas Pipelines Limited (SNGP 19.85 pts), were top point contributors.

The Power Generation & Distribution sector gained 2.35% in its cumulative market capitalization. Hub Power Company Limited (HUBC 2.91%), K-Electric Limited (KEL 1.02%), Pakgen Power Limited (PKGP 1.87%) and Engro Powergen Qadirpur Limited (EPQL 0.78%), all closed in green.

Values as at 05:16 PM PST