· A bloodbath session was recorded at the PSX today. The market opened in the green, but lack of investor participation and redemptions caused the index to drop 632.29 points intraday and close in the red. Volumes in the mainboard dried up notably as a result of political noise in the country, and third-tier companies continued to lead the volume board.
· The index closed at 41,612.67 pts, down by 537.43 pts (-1.28% DoD). Sectors contributing to the performance include Cement (-127.1pts), Technology & Communication (-89.0pts), Commercial Banks (-76.2pts), Fertilizer (-50.6pts), E&P’s (-42.4pts).
· Volumes decreased from 143.2mn shares to 126.3mn shares (-11.8% DoD). The average traded value also decreased by 36.4% to USD 14.5mn as against USD 22.8mn.
· Stocks that contributed significantly to the volumes are WTL, FCCL, HASCOL, KEL and DSIL.
Courtesy – AHL