PSX: profit taking across the board led the index to close in red zone today

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· Volatile session was observed at PSX today. Market opened on a bleak note but value buying was witnessed in the first trading hour. Main board activity remained dull but market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, investor opted for profit taking across the board which led the index to close in red zone.

· The Index closed at 46,165.50, down by 241.8pts (-0.52% DoD). Sectors contributing to the performance include Cement (-93.0pts), Banks (-62.9pts), Inv. Banks (-15.7 pts), Engineering (-15.5pts) and Textile (-15.5 pts)

· Volumes decreased from 493.6mn shares to 474.6mn shares (-3.9% DoD). Average traded value also decreased by 10.9% to reach US$ 67.9mn as against US$ 76.2mn.

· Stocks that contributed significantly to the volumes are Flying, WTL, GGL, TELE and TPLP.

Courtesy – AHL

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