Mutual fund continued selling for the last two days at PSX

·        Market traded in a narrow range today between -24pts and +210pts and closed the session +59pts (unadjusted). Banks, Oil and Gas chain, Cement stocks bore selling pressure whereas Technology, Fertilizer and side board scrips helped post an uptick in the index. Redemption at Mutual funds’ end kept the pressure on the Index after net sell of US$ 5.5M yesterday. Among scrips, SERFR posted trading volumes of 83.1M shares, followed by WTL (50.2M) and TELE (37.6M).

·        The Index closed at 46,957pts as against 46,903pts showing an increase of 54pts (+0.1% DoD). Sectors contributing to the performance include Autos (22pts), E&P (-17pts), Technology (+77pts), Power (+13pts) and Fertilizer (+12pts).

·        Volumes declined from 544.4mn shares to 465 mn shares (-15% DoD). Average traded value also declined by 24% to reach US$ 73.3mn as against US$ 96.2mn.

·        Stocks that contributed significantly to the volumes include SERFR, WTL, TELE, GGL and BYCO, which formed 49% of total volumes.

·        Stocks that contributed positively to the index include SYS (+73pts), HUBC (+14pts), MCB (+13pts), ABOT (+10pts) and MEBL (+9pts). Stocks that contributed negatively include HBL (-18pts), PPL (-9pts), MTL (-8pts), INDU (-8pts) and NBP (-6pts).

 
 

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