PSX oscillates between -232pts and +377pts today

· Market reacted passively to the partial changes made by the Government in Finance & Petroleum Ministries with Index oscillating between -232pts and +377pts, closing the session +178pts (unadjusted). Last half an hour of closing saw brisk buying and rapid recovery although the session saw dull activity for good part of the session. News reports indicated further changes in the Federal cabinet in offing, which will be announced later today and finalized by Thursday. This kept Investors perturbed about the changes made in key ministries and impact thereof on policy measures taken in the past several months. UNITY rebounded well to trade near upper circuit by the end of session, whereas tech and refinery stocks also garnered support. Among scrips, BYCO realized trading volume of 45.8M shares, followed by TRG (35.2M) and UNITY (30.8M).

· The Index closed at 44,491pts as against 43,755pts showing an increase of 59pts (+0.1% DoD). Sectors contributing to the performance include Banks (+58pts), Autos (+32pts), Cement (+20pts), Chemical (+14pts), E&P (-39pts), Power (-36pts) and Tobacco (-18pts).

· Volumes declined from 523.8mn shares to 339mn shares (-35% DoD). Average traded value also declined by 12% to reach US$ 135.6mn as against US$ 153.6mn.

· Stocks that contributed significantly to the volumes include UNITY, PRL, NETSOL, HUMNL and TELE, which formed 28% of total volumes.

· Stocks that contributed positively to the index include MCB (+57pts), FFC (+21pts), INDU (+11pts), FFBL (+11pts) and PAEL (+10pts). Stocks that contributed negatively include ENGRO (-39pts), HUBC (-32pts), MARI (-28pts), PAKT (-16pts) and UBL (-16pts).

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