KARACHI: Pakistan Stock Exchange (PSX) endured a volatile session on Wednesday, with the benchmark index swaying both ways in search of a clear direction before finally settling in the green.
Global equity markets also showed a positive performance, whereas crude prices inched up from the previous close; WTI crude price rising 0.22pc to $45.69 while Brent crude price improving 0.10pc to $48.89.
The benchmark KSE-100 Index started the day on a positive note, registering its intraday high at 42,350.23 (+248.45 points), before losing momentum and falling to its day’s low at 42,030.61 (-71.17 points). It, however, managed to recover all losses by the end and closed higher by 102.25 points at 42,204.03.
Among other indices, the KMI-30 Index gathered 343.29 points to end at 68,299.88, while the KSE All Share Index added 98.41 points, settling at 29,575.17.
The overall market volumes improved from 409.72 million shares in the previous session to 438.13 million shares. TRG Pakistan Ltd (TRG +3.91pc), Lotte Chemical Pakistan Ltd (LOTCHEM +7.10pc) and Unity Foods Ltd (UNITY +2.27pc) led the volume chart, exchanging 33.73 million, 27.19 million and 26.15 million shares, respectively.
Sectors that kept the benchmark index afloat included oil & gas exploration (+44.41 points), technology & communication (+19.59 points) and banking (+13.17 points). Among the companies, TRG (+30.19 points), Oil and Gas Development Company Ltd (OGDC +24.03 points) and Habib Bank Ltd (HBL +13.41 points) remained the top contributors.
Adding 1.18pc to its cumulative market capitalization, the oil & gas exploration sector ended as the session’s top performer, with Pak Petroleum Ltd (PPL +0.88pc), Mari Petroleum Company Ltd (MARI 0.09pc), Pakistan Oilfields Ltd (POL +0.64pc) and OGDC (+1.63pc) closing in the green.
