DAILY MARKET WRAP

Bears ruled the Pakistan Stock Exchange (PSX) on last trading session of the week. Equity markets around the globe showed negative trend. Crude oil prices moved north with WTI crude oil price rising by 0.77% to $68.91. While Brent crude oil price was up by 0.39% to $74.99. (As at 4:57 PM PST, Source: Investing.com).

On economic front, according to latest data released by State Bank of Pakistan (SBP), total Liquid Foreign Exchange Reserves Rise by US$ 93 mn WoW basis. Net reserves with State Bank of Pakistan surged by US$ 18 mn on weekly basis. Net reserves with Banks on the other hand up by US$ 75 mn.

The benchmark KSE 100 index gained 1.11% on WoW basis. During the day, the index swung between intraday high of 41,808.04 (114.79 pts) and low of 41,270.81 (423.28 pts). It ended lower by 364.14 pts at 41,329.95. The KMI 30 index lost 608.10 pts closing the session at 71,361.44. While the KSE All share index declined 130.74 pts settling at 27,177.35.

Overall market volumes fell from 234.68 mn shares in last session to 134.76 mn shares. Highest participation was witnessed in Habib Bank Limited (HBL -2.15%), Hascol Petroleum Limited (HASCOL +0.16%) and Pakistan International Bulk Terminal Limited (PIBTL +0.24%). The scrips had 9.18 mn shares, 9.15 mn shares and 8.31 mn shares traded, respectively.

Sectors wiping the gains of KSE 100 index included Technology and Communication sector (104.37 pts), Fertilizer sector (71.22 pts) and Banking sector (50.07 pts). Company-wise, Systems Limited (SYS 92.96 pts), Pakistan Services Limited (PSEL 47.85 pts), Fauji Fertilizer Company Limited (FFC 41.64 pts) were top negative contributors.

The Automobile Parts & Accessories sector (-1.73%) ended as top loser. Thal Limited (THALL 1.73%), Atlas Battery Limited (ATBA 1.35%) and Exide Pakistan Limited (EXIDE 1.98%) all closed in red.

Values as at 05:11 PM PST