PSX market bounced back today

· Market bounced back today prior to the Senate elections, which hold importance for the incumbent government. Post announcement of majority of the financial results for the outgoing quarter, Investors have been booking profits on long held positions. However, prospects of release of Funds on account of circular debt resolution prompted investors to take positions in energy chain (O&GMCs and Power).

Buying activity was also observed in Banks, Steel, Refinery and Textile sector. Among scrips, TRG led the volumes with 38.2M shares, followed by ANL (31.3M) and ASL (29.5M).

· The Index closed at 45,964pts as against 45,593pts showing an increase of 370pts (+0.8% DoD). Sectors contributing to the performance include Banks (+109pts), Technology (+65pts), Power (+56pts), O&GMCs (+53pts) and Textile (+29pts).

· Volumes increased from 368.3mn shares to 399.2mn shares (+8% DoD). Average traded value also increased by 25% to reach US$ 145.5mn as against US$ 116.5mn.

· Stocks that contributed significantly to the volumes include TRG, ANL, ASL, BYCO and GGL, which formed 36% of total volumes.

· Stocks that contributed positively to the index include TRG (+66pts), HUBC (+32pts), PSO (+31pts), HBL (+30pts) and BAFL (+27pts). Stocks that contributed negatively include LUCK (-28pts), DAWH (-15pts), EPCL (-9pts), POL (-9pts) and HMB (-8pts).

Posted in Article & Features.

Leave a Reply

Your email address will not be published. Required fields are marked *