PSX index continued trading in a narrow range today

· Market continued trading in a narrow range, whereby investors kept booking profit post budget announcement and especially in the roll-over week. Banking sector stocks inched up which helped the index prop up, however, selling pressure in Technology, Refinery, Cement sector stocks kept the upside of index in check. During the session, the index made gains of 218pts and closed the session +73pts (unadjusted). Among scrips, WTL led the table with 97.4M shares, followed by PACE (35.6M) and SILK (33.7M).

· The Index closed at 47,962pts as against 47,901pts showing an increase of 62pts (+0.1% DoD). Sectors contributing to the performance include Power (+32pts), Banks (+24pts), Cement (+16pts), Technology (-25pts) and Refinery (-11pts).

· Volumes increased from 619.1mn shares to 637.3mn shares (+3% DoD). Average traded value, on the contrary, declined by 13% to reach US$ 103.5mn as against US$ 118.3mn.

· Stocks that contributed significantly to the volumes include WTL, PACE, SILK, TPL and GGGL, which formed 34% of total volumes.

· Stocks that contributed positively to the index include HUBC (+27pts), UBL (+21pts), DAWH (+10pts), GLAXO (+10pts) and HBL (+9pts). Stocks that contributed negatively include TRG (-32pts), MCB (-11pts), ENGRO (-6pts), NRL (-5pts) and BAFL (-5pts).

Courtesy – AHL

Posted in Article & Features.

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