PSX market remained range-bound today

· Market remained range-bound today, with low volumes and lackluster activity witnessed across the board. KSE 100 went up 285 points during the day but couldn’t manage to sustain positive momentum.

· Activity was witnessed majorly in E&P stocks, on expectations of resolution of Gas circular debt. Technology stocks witnessed a sharp pull back, with good volumes.

· The Index closed at 43,847pts as against 43,853pts showing a decrease of 6.62pts (-0.02% DoD). Sectors contributing to the performance include Cement (-83pts), Fertilizer (-32pts), Pharmaceuticals (-14pts), Engineering (-13pts) and Refinery (-10pts).

· Volumes increased from 229.4mn shares to 233.2mn shares (+1.7% DoD). Traded value decreased by 16.3% to reach US$ 39.5mn as against US$ 47.2mn.

· Stocks that contributed significantly to the volumes included HASCOL, TELE, TREET, UNITY and BYCO.

Courtesy – AHL

Posted in Article & Features.

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