PSX continues to see Range bound session today

· Range bound session was witnessed today due to the concerns over mounting international oil prices and rising Covid-19 cases. Oil touched $90 a barrel for the first time in seven years supported by tight supply and rising political tensions between Russia and Ukraine that added to concerns about further disruption in an already-tight market. Market opened on a positive note but soon after profit taking was witnessed across the board. Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, value buying was observed due to announcement of corporate results.

· The Index closed at 45,083.04pts as against 44,955.05pts showing an increase of 128.0pts (+0.28% DoD). Sectors contributing to the performance include Technology (+62.7pts), Power (+28.4pts), Commercial Banks (+22.1pts), Misc. Sectors (+20.9pts) and E&P (+17.4pts).

· Volumes increased from 137.3mn shares to 173.6mn shares (+26.4% DoD). Traded value also increased by 22.5% to reach US$ 37.1mn as against US$ 30.3mn.

· Stocks that contributed significantly to the volumes include TRG, HUMNL, UNITY, WTL and CNERGY.

Courtesy – AHL

 

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