PSX index receives 870pts today

· As the news of resumptions of dialogue with IMF team relayed, investors’ concerns over the package started dissipating, causing the Index to make an upward swing. The index posted a total gain of 934pts, closing the index +850pts (unadjusted). Cement, Technology, Banks, Fertilizer stocks remained in the limelight. Cement stocks led the index on news of Cement companies increasing the cement price / bag, whereas dwindling outflows from foreign counters in Banks and Fertilizer stocks also helped these sectors post healthy gains. Among scrips, WTL led the volumes with 49.3M shares, followed by HUMNL (24.7M) and BYCO (15.6M).

· The Index closed at 45,500pts as against 44,629pts showing an increase of 870pts (+1.9% DoD). Sectors contributing to the performance include Banks (+201pts), Cement (+160pts), Technology (+106pts), Fertilizer (+79pts) and Textile (+49pts).

· Volumes increased from 248.2mn shares to 308.2mn shares (+24% DoD). Average traded value also increased by 18% to reach US$ 59.8mn as against US$ 50.8mn.

· Stocks that contributed significantly to the volumes include WTL, HUMNL, BYCO, TELE and UNITY, which formed 39% of total volumes.

· Stocks that contributed positively to the index include TRG (+65pts), LUCK (+58pts), ENGRO (+50pts), HUBC (+49pts) and HBL (+44pts). Stocks that contributed negatively include OGDC (-8pts), NESTLE (-7pts), HGFA (-6pts), GHGL (-5pts) and KAPCO (-4pts).

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