· A negative session was witnessed at the PSX today. The market opened in the negative zone and continued to trade in the same range as a lackluster opening session concluded. Investors’ participation in the market remained low due to the ongoing political chaos. The second session began with the same momentum and remained negative until the closing bell. The mainboard’s volumes remained decent, as third-tier companies continued to dominate the volume board.
· The Index closed at 42,730.24pts, down by 89.48pts (-0.21% DoD). Sectors contributing to the performance include Commercial Banks (-27.4pts), Technology & Communication (-24.3pts), E&P’s (-22.4pts), Textile Composite (-12.0pts), Vanaspati & Allied Industries (-8.2pts).
· Volumes increased from 181.2mn shares to 189.3mn shares (+4.4% DoD). The average traded value decreased by 18% to USD 22.7mn as against USD 27.6mn.
· Stocks that contributed significantly to the volumes are UNITY, WTL, HASCOL, GCIL and FCCL.
Courtesy – AHL