Bullish momentum was witnessed at PSX today

Bullish momentum was witnessed at PSX today due to expectation of Pakistan’s exclusion from the grey list of FATF.  KSE-100 index stayed in the green zone as investors opted for value hunting in the OMCs, cements and E&P sectors. Volumes remained sluggish in the main board whereas 3rd tier stocks witnessed hefty volumes. 

The Index closed at 41,438.79pts, up by 384.11pts (+0.94% DoD). Sectors contributing to the performance include Cement (+73.6pts), Banks (+70.6pts), Fertilizer (+70.0pts), E&P (+54.7pts) and Power (+34.5pts).

Volumes increased from 120.1mn shares to 141.7mn shares (+18.0% DoD). Average traded value also increased by 41.6% to reach US$ 23.1mn as against US$ 16.3mn.

Stocks that contributed significantly to the volumes are TPLP, BGL, PRL, WTL and SNGP.

Courtesy – AHL

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