A bloodbath session was observed today; despite opening in the positive zone, the market failed to sustain itself as the continuation of fiscal and political uncertainty triggered investor confidence, resulting in the market closing on a negative note.

PSX witnessed profit selling across the board today due to further devaluation of Pak rupee against USD and tightening economic situation, which pulled the KSE-100 index down to 1100 points giving the bears an upper hand. The session remained dull; on the contrary, hefty volumes were observed in 3rd tier stocks. The last trading hour witnessed value buying in cement stocks helping the index to recover modest gain with positive momentum.

· The Index closed at 42,863.15pts, down by 641.21pts (+1.47% DoD). Sectors contributing to the performance include Banks (-110.0pts), Fertilizer (-71.2pts), Cement (-64.3pts), and Power (-50.9pts).

· Volumes increased from 233.9mn shares to 338.5mn shares (+44.8% DoD). The average traded value also increased by 38.9% to reach US$ 50.2mn as against US$ 36.1mn.

· Stocks that contributed significantly to the volumes are WTL, CNERGY, PAEL, PRL and TRG.

Courtesy- AHL