Increase in electricity tariff affected investor sentiment at PSX

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Market oscillated between +132pts and -294pts, ending the session -55pts (unadjusted). Global stock markets took breather since last evening, which trickled in regional markets as well. KSE100 saw across the board selling on the concern of monetary policy decision, which was announced in the last half hour of the session, besides the redemptions from mutual funds. Increase in electricity tariff also affected investor sentiment towards manufacturing concerns. Among scrips, KEL realized the most volumes with 54M shares, followed by FFL (24.6M) and ICIBL (23.7M).

· The Index closed at 45,868pts as against 45,984pts showing a decline of 116pts (-0.3% DoD). Sectors contributing to the performance include E&P (-51pts), Fertilizer (-21pts), Technology (-19pts), O&GMCs (-16pts) and Power (-13pts).

· Volumes declined from 606.3mn shares to 430.6mn shares (-29% DoD). Average traded value also declined by 12% to reach US$ 98.5mn as against US$ 111.5mn.

· Stocks that contributed significantly to the volumes include KEL, FFL, ICIBL, PIBTL and FFBL, which formed 34% of total volumes.

· Stocks that contributed positively to the index include SYS (+21pts), KTML (+15pts), FABL (+13pts), FFBL (+12pts) and INIL (+11pts). Stocks that contributed negatively include TRG (-40pts), ENGRO (-16pts), MARI (-16pts), PPL (-14pts) and OGDC (-14pts).

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