PSX shows a decline of 186pts today

·        Roll-over trades from April Futures Contract that remained outstanding at the end of Roll-over week on Friday caused mayhem today as well, especially the positions in TRG and NETSOL. Resultantly, the Index slashed 632pts during the session. Recovery ensued, considering that the positions have rolled-over however, since the positions were still outstanding, the recovery efforts proved futile, ending the session -210pts (unadjusted). NETSOL hit lower circuit since the beginning of the session, whereas TRG traded near lower circuit the entire session. Besides Technology stocks, selling pressure was observed in Cement and Steel sectors which kept the index down. Among scrips, UNITY led the table with 36.2M shares, followed by TELE (25.2M) and GGL (23M).

·        The Index closed at 44,076pts as against 44,262pts showing a decline of 186pts (-0.4% DoD). Sectors contributing to the performance include Technology (-89pts), Textile (-58pts), Cement (-33pts), Power (-29pts) and Refinery (-12pts).

·        Volumes declined from 293.7mn shares to 238mn shares (-19% DoD). Average traded value also declined by 18% to reach US$ 73.8mn as against US$ 89.7mn.

·        Stocks that contributed significantly to the volumes include UNITY, TELE, GGL, TRG and WTL, which formed 46% of total volumes.

·        Stocks that contributed positively to the index include SYS (+41pts), HBL (+17pts), UNITY (+16pts), KTML (+13pts) and FFC (+13pts). Stocks that contributed negatively include TRG (-130pts), HUBC (-28pts), NML (-23pts), ANL (-16pts) and LUCK (-15pts).

Courtesy – AHL

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