A positive session was witnessed at PSX today

·        A positive session was witnessed at PSX today. The benchmark KSE-100 index opened in the green as the bulls kept drifting the market within positive zone during most of the trading hours and pulled the index up to make an intraday high of 440.20 points. Today’s bullish move was owed to a recovery phase due to substantial discounted stock prices offering all time low price to earnings multiple that attracted investors to accumulate dividend yielding stocks to add value to their portfolio

·        The index closed at 40,670.88 pts, up by 258.11pts (+0.64% DoD). Sectors contributing to the performance include E&P’s (+143.5pts), Commercial Banks (+125.5pts), Fertilizer (+91.1pts), Power Generation & Distribution (+36.0pts), and Chemical (+15.6pts).

·        Volumes decreased from 167.3mn shares to 152.2mn shares (-9.1% DoD). The average traded value also decreased by 18.0% to USD 28.6mn as against USD 34.8mn.

·        Stocks that contributed significantly to the volumes are WTL, HUBC, MLCF, TPLP, & POWER.

Courtesy – AHL

Posted in PSX.

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