Range bound session was observed in PSX today

Range bound session was observed today due to political unrest and overheated commodities cycle. Market opened in the green zone and stayed volatile throughout the day. Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, across the board selling was witnessed.

The Index closed at 43,653.33pts as against 43,853.62pts showing a decrease of 200.29pts (-0.46% DoD). Sectors contributing to the performance include Commercial Banks (-43.0pts), E&P (-42.0pts), Cement (-40.1pts), Power (-30.0pts) and OMC’s(-19.5pts).

Volumes decreased from 271.9mn shares to 149.3mn shares (-45.1% DoD). Traded value also decreased by 29.7% to reach US$ 29.5mn as against US$ 42.0mn.

Stocks that contributed significantly to the volumes include TPLP, PAELR3, TPL, UNITY and FLYNGR1.

Courtesy – AHL

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