A negative session was observed at the PSX today.

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· A negative session was observed at the PSX today. The benchmark KSE-100 index began the day in green, but bulls lost control as the bears triumphed at the end of the day. The KSE-100 hit an intraday low of 41,265 (-406.62 points) following some market chatter about new tax measures in the upcoming budget as investors decided to book profits. Investor participation was marginally lower, while the cement sector remained in the limelight.

· The index closed at 41,330.56 down by 341.09pts (-0.82% DoD). Sectors contributing to the performance include Technology & Communication (-86.6pts), Cement (-67.9pts), E&P’s (-51.5pts), Chemical (-27.0pts), and Fertilizer (-18.9pts).

· Volumes decreased from 197.7mn shares to 158.1mn shares (-20.0% DoD). The average traded value also decreased by 4.6% to USD 21.4mn as against USD 22.5mn.

· Stocks that contributed significantly to the volumes were WTL, MLCF, FCCL, TRG, and CNERGY.

Courtesy – AHL


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