PSX sheds 451pts today

· The KSE100 benchmark index lost 647pts during the session after posting an intra-day gain of 930pts, and closed the session -290pts (unadjusted). Banks, E&P, Fertilizer sectors remained under selling pressure whereas Tech and Refinery sector stocks saw mixed reaction from Investors. Different factors were at play that brought negative sentiment including anticipation of mute growth in financial sector results and decline in international crude oil prices.

Cement sector performed well earlier in the session, however, change of overall sentiment brought cement stocks down as well. Among scrips, TRG led the table with 38.3M shares, followed by DSL (30.3M) and ANL (22.9M).

· The Index closed at 43,954pts as against 44,404pts showing a decline of 451pts (-1.0% DoD). Sectors contributing to the performance include Banks (-183pts), E&P (-103pts), Fertilizer (-98pts), Autos (-37pts) and Power (-31pts).

· Volumes increased slightly from 305.9mn shares to 371mn shares (+21% DoD). Average traded value also increased by 26% to reach US$ 132.8mn as against US$ 105.2mn.

· Stocks that contributed significantly to the volumes include TRG, DSL, ANL, GGL and TELE, which formed 33% of total volumes.

· Stocks that contributed positively to the index include LUCK (+39pts), AICL (+15pts), TRG (+12pts), EFUG (+11pts) and ISL (+11pts). Stocks that contributed negatively include HBL (-55pts), ENGRO (-52pts), BAHL (-46pts), OGDC (-44pts) and FFC (-35pts).

Posted in Article & Features.

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