PSX records a decline of 377pts

· Concern over growing cases of Corona and incidence in major cities thereof kept the investors perturbed the second day as well, where despite healthy earnings posted by companies announced today, the index eventually went down by 424pts. At the close, the index registered a decline of 377pts. E&P, Cement, Steel scrips contributed the most to the decline, whereas banking sector stocks saw pick up today. Notable scrips declaring results today includes ENGRO and UBL, which made the announcement at the beginning of the session that included dividend declaration, however, selling pressure brought the stock prices down by the end of session. Among scrips, GGL topped the volumes with 36.3M shares, followed by TRG (30.2M) and WTL (26.8M).

· The Index closed at 44,930pts as against 45,306pts showing a decline of 377pts (-0.8% DoD). Sectors contributing to the performance include E&P (-94pts), Cement (-79pts), Textile (-55pts), Technology (-45pts) and Autos (-34pts).

· Volumes declined from 387.9mn shares to 328.9mn shares (-15% DoD). Average traded value also declined by 18% to reach US$ 103.5mn as against US$ 126.3mn.

· Stocks that contributed significantly to the volumes include GGL, TRG, WTL, UNITY and TELE, which formed 38% of total volumes.

· Stocks that contributed positively to the index include UBL (+56pts), HBL (+45pts), ENGRO (+27pts), BAFL (+11pts) and BAHL (+8pts). Stocks that contributed negatively include OGDC (-40pts), MCB (-29pts), PPL (-26pts), SYS (-25pts) and LUCK (-20pts).

Posted in Article & Features.

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