DAILY MARKET WRAP

The Pakistan Stock Exchange (PSX) closed a topsy-turvy session on Thursday flat. Indices swung high and low before closing with minimal change while volume decreased compared to prior session.

Global equity markets exhibited mixed trend. Crude oil prices moved north, with WTI crude oil prices falling by 0.52% to $69.56. While Brent crude oil price went down by 0.67% to $73.19 (As at 3:52 PM PST, Source: Investing.com).

Accumulating 306.29 pts, the benchmark KSE 100 index climbed to intraday high of 79,154.30. It then lost 269.99 pts falling to day’s low of 78,578.02. The index closed the session flat by positive 15.33 pts at 78,863.34. The KMI 30 index slipped by 317.58 pts to end the day at 125,703.39. While the KSE All share index was down by 36.06 pts to finish the day at 50,743.01.

Investor participation decreased from 969.50 mn shares in the previous session to 769.79 mn shares. Leaders of the volume chart included, Worldcall Telecom Limited (WTL -2.19%), Pace (Pakistan) Limited (PACE +21.46%) and Kohinoor Spinning Mills Limited (KOSM -9.82%). The scrips had 87.10 mn shares, 66.58 mn shares and 42.14 mn shares traded, respectively.

Sectors driving the benchmark KSE 100 index forward included, Banking sector (+126.09 pts), Fertilizer sector (+56.49 pts) and Cement sector (+40.65 pts). Company-wise, United Bank Limited (UBL +126.92 pts), Kohat Cement Company Limited (KOHC +49.58 pts) and MCB Bank Limited (MCB +28.24 pts), were top points contributors.

The Fertilizer sector gained 0.50% in its cumulative market capitalization. Fauji Fertilizer Company Limited (FFC +0.69%), Engro Fertilizers Limited (EFERT +0.68%), Engro Corporation Limited (ENGRO +0.65%) and Arif Habib Corporation Limited (AHCL +1.50%), all closed in green.

Values as at 04:15 P.M