PSX index sees uncertainly among investors today

·        Market opened on a positive note but remained dull in the first half session of the market. Concerns on inflation and weakening of Pak Rupee against dollar created uncertainly for investors to take fresh positions, which eventually resulted in profit-booking scenario of last day positions in the second half session. Accumulation was witnessed in the banking sector as market participants eyeing towards rate hike in the upcoming monetary policy. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, institutional activity remained lackluster.

·        The Index closed at 46,348 pts as against 46,630 pts showing a decrease of 282 pts (-0.6% DoD). Sectors contributing to the performance include Commercial Banks (-60pts), E&P (-55pts), Technology (-40pts), Cement (-37pts) and Engineering (-19pts).

·        Volumes decreased from 320.3mn shares to 269.5mn shares (-15.9% DoD). Traded value also decreased by 11% to reach US$ 54.5mn as against US$ 61.2mn.

·        Stocks that contributed significantly to the volumes include GGL, SERF, TELE, TPLP and WAVES.

Courtesy – AHL

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