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DAILY MARKET WRAP
PSX Ends Week Flat!
The Pakistan Stock Exchange (PSX) ended a bumpy trading session on Friday flat. Indices swung high and low while volumes contracted from last close. Equity markets around the world showed mixed trend. Crude oil prices moved north with WTI crude oil price rising by 0.40% to $81.88. While Brent crude oil price was up by 0.42% to $85.50. (As at 4:52 PM PST, Source: Investing.com).
On the economic front, as per data published by the State Bank of Pakistan (SBP), the Pakistani Rupee gained PKR 2.1799(+0.75%) against the US Dollar on DoD basis ending the session at PKR 287.2019/US$.
The benchmark KSE 100 index gained 3.20% on WoW. During the day it oscillated between intraday high of 48,840.27 (gaining 229.09 pts) and intraday low of 48,427.99 (losing 183.19 pts). It settled flat by negative 25.47 pts at 48,585.72 pts. The KMI 30 index gained 100.05 pts ending the session at 81,643.13. While the KSE All share index was up by 15.27 pts closing at 32,317.47.
Total traded volume shrank from 522.89 mn shares in the previous session to 330.98 mn shares. Cynergyico PK Limited (CNERGY +8.45%), Oil and Gas Development Company Limited (OGDC +3.47%) and Pakistan Refinery Limited (PRL +5.12%), witnessed highest market participation. The scrips had 66.50 mn shares, 27.97 mn shares and 25.86 mn shares respectively.
Sectors driving the benchmark KSE 100 index south included, Fertilizer sector (55.39 pts), Banking sector (47.75 pts) and Technology and Communication sector (41.31 pts). Company-wise, United Bank Limited (UBL 47.53 pts), Engro Corporation Limited (ENGRO 37.68 pts), Systems Limited (SYS 29.33 pts), were top negative contributors.
The Cement sector lost 0.58% in its cumulative market capitalization. Kohat Cement Company Limited (KOHC 2.73%), Maple Leaf Cement Factory Limited (MLCF 1.47%), Fauji Cement Company Limited (FCCL 0.08%) and Cherat Cement Company Limited (CHCC 1.65%), all closed in red.
Values as at 05:14 PM PST