PSX index sheds 338pts today

Pakistan Stock Market came down on the first day of the roll-over week, contributed mostly by Banking sector stocks, where the disappointment reigns due to poor dividend distribution and anticipation of similar subdued result from UBL, scheduled to be announced on Wednesday 3:00 PM. FATF plenary session starts today with the anticipation of status quo, which has also caused a bit of concern among investors holding on to the positions in hope of positive conclusion.

Cement, Banks, O&GMCs and Fertilizer sectors saw selling pressure, whereas Tech stocks performed well. Among scrips, HUMNL topped the volumes with 114.3M shares, followed by BYCO (109.1M) and TRG (46.4M).

· The Index closed at 45,890pts as against 46,228pts showing a decline of 338pts (-0.7% DoD). Sectors contributing to the performance include Banks (-218pts), E&P (-81pts), Cement (-44pts), Fertilizer (-23pts) and Power (-21pts).

· Volumes increased from 694.8mn shares to 722.1mn shares (+4% DoD). Average traded value also increased by 4% to reach US$ 162.1mn as against US$ 156.4mn.

· Stocks that contributed significantly to the volumes include HUMNL, BYCO, TRG, MDTL and DCL, which formed 45% of total volumes.

· Stocks that contributed positively to the index include TRG (+105pts), GATM (+12pts), BYCO (+8pts), GHGL (+6pts) and FML (+5pts). Stocks that contributed negatively include HBL (-74pts), UBL (-59pts), OGDC (-34pts), PPL (-24pts) and BAHL (-22pts).

Posted in Article & Features.

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