PSX continues its journey to upward

Market continued the bull run to post a total gain of 556pts during the session, closing the session +505pts (unadjusted). Brisk trading activity was witnessed, which saw NBP trading at upper circuit after posting better than expected financial results at the opening bell. Cement, Fertilizer, OMCs and Chemical sector stocks followed this performance and traded high volumes. Overall trading volumes also reached a recent time high of 836M shares. Technology sector led the volumes with 114.5M shares, followed by Cement (86.9M) and Banks (81.3M). Among scrips, KEL topped the volumes with 53.9M, followed by PTC (48.7M) and PBTL (46.9M).

· The Index closed at 41,834pts as against 41,378pts showing an increase of 458pts (+1.1% DoD). Sectors contributing to the performance include Banks (+90pts), Fertilizer (+81pts), O&GMCs (+49pts), Inv Banks (+39pts) and Cement (+35pts).

· Volumes increased from 759.3mn shares to 837.0mn (+10% DoD). Average traded value also increased by 21% to reach US$ 158.1mn as against US$ 131.2mn.

· Stocks that contributed significantly to the volumes include KEL, PTC, PIBTL, HASCOL and TRG, which formed 28% of total volumes.

· Stocks that contributed positively to the index include ENGRO (+38pts), UBL (+34pts), NBP (+31pts), DAWH (+28pts) and EFERT (+26pts). Stocks that contributed negatively include HUBC (-13pts), SHFA (-4pts), MEBL (-3pts), FCEPL (-3pts) and HINOON (-2pts).

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