PSX Market traded in a narrow range between -227pts and +194pts today

· Market traded in a narrow range between -227pts and +194pts, closing the session -166pts (unadjusted). E&P sector remained positive throughout the session on the back of an uptrend in international crude oil prices, however, the upside in E&P stocks remained in check. Banks, Cement, O&GMCs continued downtrend post announcement of half yearly / annual results. Technology stocks saw reversal after hitting session’s high and closed in red.

HASCOL announced increase in Authorized share capital that insinuated a capital raise and saw profit booking with an eventual closing below LDCP. Among scrips, WTL led the table with 84.2M shares, followed by BYCO (70.2M) and MDTL (55.4M).

· The Index closed at 45,729pts as against 45,890pts showing a decline of 161pts (-0.4% DoD). Sectors contributing to the performance include E&P (+47pts), Fertilizer (+21pts), Textile (+21pts), Technology (-98pts) and Banks (-65pts).

· Volumes declined from 722mn shares to 718.2mn shares (-0.5% DoD). Average traded value also declined by 2% to reach US$ 159mn as against US$ 162.1mn.

· Stocks that contributed significantly to the volumes include WTL, BYCO, MDTL, TRG and DCL, which formed 38% of total volumes.

· Stocks that contributed positively to the index include ENGRO (+24pts), PPL (+23pts), OGDC (+16pts), ILP (+16pts) and HMB (+12pts). Stocks that contributed negatively include TRG (-90pts), HBL (-43pts), MEBL (-17pts), PSO (-14pts) and THALL (-13pts).

Courtesy – AHL

Posted in Article & Features.

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