PSX index rebounds today

· Market partially recovered the points lost in yesterday’s trading. Investors largely banked on Prime Minister’s Vote of Confidence, scheduled for tomorrow, which was further aided by release of SPI (Sensitive Price Index) data that showed a surprise jump of 15% YoY, prompting an active buying in Banks. 5% jump in international crude oil prices also favoured otherwise lethargic E&P sector, which also contributed to the surge in Index.

Among scrips, ANL topped the volumes with 29.2M shares, followed by TRG (21.1M) and PRL (17.8M).

· The Index closed at 45,837pts as against 45,279pts showing an increase of 559pts (+1.2% DoD). Sectors contributing to the performance include Banks (+135pts), E&P (+132pts), Cement (+59pts), Fertilizer (+52pts) and Power (+51pts).

· Volumes declined from 441mn shares to 317.2mn shares (-28% DoD). Average traded value also declined by 25% to reach US$ 101.5mn as against US$ 135.1mn.

· Stocks that contributed significantly to the volumes include ANL, TRG, PRL, GGL and FFBL, which formed 32% of total volumes.

· Stocks that contributed positively to the index include POL (+46pts), OGDC (+42pts), HBL (+37pts), LUCK (+35pts) and TRG (+33pts). Stocks that contributed negatively include COLG (-15pts), PAKT (-12pts), AICL (-2pts), PSX (-2pts) and PSMC (-2pts).

Posted in Article & Features.

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