PSX shows an increase of 97pts today

· Pakistan’s launch of Eurobond and raising funds from international market was warmly greeted by PSX, which saw an upside of 642pts during the session and ended +217pts (unadjusted). E&P, Cement, O&GMCs and Steel sectors performed well whereas Refinery and Tech proved to be very volatile, where stocks hit lower circuit after trading at high rates during the session. A hint towards opening up trade with India also boosted investors’ confidence, where among listed sectors, Cement is anticipated to be a key beneficiary from export of cement. Among scrips, BYCO topped the volumes with 73.2M shares, followed by TRG (39M) and PRL (31.1M).

· The Index closed at 44,588pts as against 44,491pts showing an increase of 97pts (+0.2% DoD). Sectors contributing to the performance include Fertilizer (+24pts), Cement (+24pts), E&P (+22pts), Banks (+19pts), Tech (-35pts), Textile (-17pts).

· Volumes increased from 339.1mn shares to 443.9mn shares (+31% DoD). Average traded value also increased by 25% to reach US$ 169.7mn as against US$ 135.9mn.

· Stocks that contributed significantly to the volumes include BYCO, TRG, PRL, UNITY and GGL, which formed 42% of total volumes.

· Stocks that contributed positively to the index include ENGRO (+31pts), UBL (+28pts), POL (+20pts), SYS (+20pts) and SRVI (+17pts). Stocks that contributed negatively include TRG (-52pts), HBL (-30pts), COLG (-20pts), HUBC (-11pts) and FFC (-10pts).

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