PSX bounced back strongly today

· Market followed the trend shown yesterday by regressing 331pts in the first session, however, bounced back strongly and added a total increase of 448pts. The index closed +177pts. Key monetary policy decision taken by the SBP today remained unchanged, which was announced after the end of session. Refinery, Cement, Steel, O&GMCs performed in the later part of the session. Among scrips, BYCO led the table with 101.3M shares, followed by KEL (38.2M) and TRG (30.6M).

· The Index closed at 44,901pts as against 44,724pts showing an increase of 177pts (+0.4% DoD). Sectors contributing to the performance include Power (+49pts), Technology (+42pts), O&GMCs (+42pts), Refinery (+27pts) and Pharma (+22pts).

· Volumes declined from 554mn shares to 484.6mn shares (-13% DoD). Average traded value also declined by 9% to reach US$ 140.0mn as against US$ 152.8mn.

· Stocks that contributed significantly to the volumes include BYCO, KEL, TRG, PRL and UNITY, which formed 45% of total volumes.

· Stocks that contributed positively to the index include HBL (+60pts), PSO (+31pts), TRG (+25pts), HUBC (+22pts) and SYS (+17pts). Stocks that contributed negatively include OGDC (-27pts), UBL (-24pts), INDU (-19pts), FFC (-16pts) and BAHL (-14pts).

Posted in Article & Features.

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