· A positive session was recorded at the PSX to end the business week today. The market opened in the green as bulls took over the index and proceeded to make an intraday high of 316.48 points on the back of expectations to reach a much awaited staff-level agreement with the IMF soon. The index maintained the bullish momentum as Pak Rupee gained strength against the US dollar giving the investors a confidence boost as a result of which substantial volumes were observed across the board with third tier stocks leading the volume board.
· The index closed at 41,793.87 pts, up by 208.33pts (+0.50% DoD). Sectors contributing to the performance include Commercial Banks (+70.8pts), Fertilizer (+36.0pts), Technology & Communication (+35.3pts), Inv. Banks / Inv. Cos. / Securities Cos. (+16.8pts), and Textile Composite (+14.7pts).
· Volumes increased from 229.1mn shares to 272.8mn shares (+19.1% DoD). The average traded value decreased by -8.4% to USD 24.1mn as against USD 26.3mn.
· Stocks that contributed significantly to the volumes are FFL, TELE, WTL, TPLP, & GGL.
Courtesy – AHL