· To begin the business week, a positive session was witnessed at the PSX today. The market started rising shortly after the opening bell rung owing to expectations of reaching a staff-level agreement with the IMF this week as the market reached an intraday high of 460.71 points. Investors gained much confidence after the Pak Rupee gained strength against the US Dollar. Investor participation remained active throughout the day as healthy volumes were observed across the board.
· The index closed at 41,434.33 pts, up by 97.3pts (+0.24% DoD). Sectors contributing to the performance include Miscellaneous (+61.5pts), Cement (+37.4pts), E&P’s (+35.6pts), Technology & Communication (+31.6pts), and Pharmaceuticals (+9.4pts).
· Volumes increased from 194.8mn shares to 221.6mn shares (+13.7% DoD). The average traded value decreased by 6.5% to USD 26.1mn as against USD 27.9mn.
· Stocks that contributed significantly to the volumes are WTL, TELE, TPLP, OGDC, and PPL.
Courtesy – AHL