DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed first trading session of the week flat. Indices traded in green all day long, while volumes appreciated from last close. As per analysts, the news of IMF asking for assurance by the Government to finance its balance of payments deficit for remaining period eroded positivity from the market.

Equity markets around the globe showed positive trend. Crude oil prices moved south with WTI crude oil price falling by 1.62% to $78.39. While Brent crude oil was down by 1.64% to $84.42. (As at 3:56 PM PST, Source: Investing.com).

On the economic front, as per data published by All Pakistan Cement Manufacturers Association (APCMA), domestic cement sales declined by 8.96% on YoY basis while exports increased by 10.96% from SPLY. On MoM basis, domestic cement sales inched up by 0.08% while exports were up by 7.66%.

Gaining 460.71 the benchmark KSE 100 index jumped to day’s high of 41,797.71. It settled flat by positive 97.33 pts at 41,434.33. The KMI 30 index went up by 137.08 pts closing at 70,874.69. While the KSE All Share index inched up by 20.51 pts settling at 27,064.95.

Overall market volumes increased from 194.68 mn shares in last session to 220.81 mn shares. Worldcall Telecom (WTL +1.54%) topped the volume chart with 42.07 mn shares traded. Followed by Telecard Limited (TELE 16.86%) and TPL Properties Limited (TPLP 1.59%). The scrips had 17.56 mn shares and 10.63 mn shares traded, respectively.

Sectors painting the benchmark KSE 100 index in green included, Miscellaneous sector (61.11 pts), Oil and Gas Exploration sector (35.33 pts) and Cement sector (34.42 pts). Company-wise, Pakistan Services Limited (PSEL 60.01 pts), Pakistan Petroleum Limited (PPL 42.65 pts), and TRG Pakistan Limited (TRG 19.27 pts), were top positive contributors.

The Automobile Parts & Accessories sector gained 0.85% in its cumulative market capitalization. Thal Limited (THALL 2.46%), Atlas Battery Limited (ATBA 1.90%), Panther Tyres Limited (PTL 3.08%) and Exide Pakistan Limited (EXIDE 2.12%) all closed in green.

Values as at 04:12 PM PST