Relatively stability in Afghanistan helped investors gain confidence in PSX

· Market added another 341pts during the session today, after gaining traction earlier in the week. Relatively stability in Afghanistan helped investors gain confidence, especially the decision to drop custom duties on different items that will particularly improve dispatches for Cement sector. Today’s session was a reflection of that, with cement, Banks, steel, refinery, fertilizer and O&GMCs sectors contributing positively to the Index. On the flip side, E&P sector regressed due to significant drop in international crude oil prices witnessed in the past couple of days when PSX was off. Among scrips, GGL topped the volumes with 21.6M shares, followed by BYCO (18.8M) and TPL (10.4M).

· The Index closed at 47,600pts as against 47,258pts showing an increase of 341pts (+0.7% DoD). Sectors contributing to the performance include Cement (+182pts), Banks (+73pts), O&GMCs (+39pts), Engineering (+27pts) and Fertilizer (+15pts).

· Volumes increased from 246mn shares to 299.1mn shares (+22% DoD). Average traded value also increased by 14% to reach US$ 80mn as against US$ 70mn.

· Stocks that contributed significantly to the volumes include GG, BYCO, TPL, SILK and WTL, which formed 23% of total volumes.

· Stocks that contributed positively to the index include MEBL (+64pts), DGKC (+39pts), CHCC (+32pts), LUCK (+31pts) and PSO (+31pts). Stocks that contributed negatively include PSEL (-10pts), MARI (-9pts), TRG (-9pts), OGDC (-7pts) and NESTLE (-7pts).

Courtesy – AHL

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