PSX: Volumes decreased from 240.4mn to 223.4mn shares (-7.1% DoD) today

· Battle between bulls and bears was conquered by the bears in the last trading hour. The market opened with positive momentum as SBP conducted another OMO for 63 days. The optimistic approach faded away due to investors’ concerns about higher inflation and dipped in total liquid foreign exchange reserves the SBP mainly due to external debt repayment. Activity continued to remain side-ways as the market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, institutional buyers started fetching value stocks in the second session due to attractive multiples.

· The Index closed at 44,118pts as against 44,267pts showing a decrease of 148.5pts (-0.34% DoD). Sectors contributing to the performance include Technology & Communication (-60pts), Chemical (-36pts), Cement (-25pts) Oil & Gas Exploration Companies (-17pts) and Textile (-9pts).

· Volumes decreased from 240.4mn to 223.4mn shares (-7.1% DoD). Traded value also decreased by 8.5% to reach US$ 41.2mn as against US$ 45.0mn.

· Stocks that contributed significantly to the volumes include UNITYR3, HUMNL, TRG, TPLP and UNITY.

Courtesy – AHL

Posted in Article & Features.

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