·    A mixed session was recorded at the PSX to kick off the business week. The market opened in the green zone, but lack of investor involvement drove the index down into the red zone, where it remained for the rest of the trading session, swinging in both directions and eventually closing in the red. Due to speculation of a policy rate hike in the Monetary Policy Committee meeting tomorrow, investors chose to stay on the sidelines. Volumes in the mainboard dried up, while third-tier companies continued to dominate the volume board.

·    The index closed at 39,889.90 pts, down by 110.93pts (-0.28% DoD). Sectors contributing to the performance include Cement (-46.0pts), Fertilizer (-28.2pts), Commercial Banks (-27.4pts), OMCs (-21.1pts), and Automobile Assembler (-19.3pts).

·    Volumes decreased from 112.2mn shares to 74.4mn shares (-33.7% DoD). The average traded value also decreased by -55.5% to USD 6.2mn as against USD 13.8mn.

·    Stocks that contributed significantly to the volumes are TELE, WTL, PAEL, BOP and PIBTL.

Courtesy- AHL