· A negative session was recorded at the PSX today. The market opened in the green but bears rapidly took control, driving the index into the red throughout the first session as investor participation was low due to the uncertainty surrounding the talks to revive the IMF program. The second session began with the same negative sentiments, but due to the weekend investor-booked profit that led the market to make an intraday low of 539.88 points. Volumes on the mainboard remained reasonable, with third-tier companies dominating the volume board.
· The index closed at 38,407.98 pts, down by 423.60 pts (-1.09% DoD). Sectors contributing to the performance include Commercial Banks (-82.1pts), Technology & Communication (-60.8pts), Cement (-58.8pts), E&P’s (-53.4pts), and OMCs (-41.0pts).
· Volumes decreased from 157.8mn shares to 93.5mn shares (-40.8% DoD). The average traded value also decreased by 45.4% to USD 15.3mn as against USD 28.0mn.
· Stocks that contributed significantly to the volumes are PPL, , WTL, GCIBL, CNERGY and TRG.
Courtesy – AHL