PSX shows a decline of 601pts today

· End of roll-over week had a painful impact on market, causing the index to tumble 711pts during the session and closing -555pts (unadjusted). Leveraged stocks, NETSOL, TRG and UNITY which had significant outstanding balance in the DFC open interest created negative sentiment, despite TRG declaring good results with a hefty payout. NETSOL, on the other hand, posted negative earnings for the quarter. Resultantly, NETSOL hit lower circuit. Besides, selling pressure was observed across the board with UBL contributing to loss on points table among banking sector stocks with the exception of HBL that maintained level above LDCP. Among scrips, GGL topped the volumes with 34.8M shares, followed by TRG (25.9M) and TELE (22.4M).

· The Index closed at 44,262pts as against 44,863pts showing a decline of 601pts (-1.3% DoD). Sectors contributing to the performance include Technology (-133pts), Cement (-60pts), E&P (-50pts), O&GMCs (-46pts) and Banks (-42pts).

· Volumes increased from 280.6mn shares to 293.7mn shares (+4% DoD). Average traded value also increased by 1% to reach US$ 89.6mn as against US$ 88.6mn.

· Stocks that contributed significantly to the volumes include GGL, TRG, TELE, WTL and HASCOL, which formed 37% of total volumes.

· Stocks that contributed positively to the index include BAHL (+19pts), HBL (+14pts), SCBPL (+6pts), SHFA (+6pts) and AGP (+5pts). Stocks that contributed negatively include TRG (-105pts), HUBC (-30pts), SYS (-28pts), NBP (-24pts) and NRL (-23pts).

Share:
Posted in Article & Features.

Leave a Reply

Your email address will not be published. Required fields are marked *