A range-bound session observed at PSX today

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·        A range-bound session was observed at PSX today given further devaluation of PKR against USD tagged with concerns of new taxes in the upcoming budget, keeping the investors at bay. The volumes remained dry in the main board although 3rd tier stocks continued positive momentum.

·        The Index closed at 41,568.41pts, down by 8.80pts (-0.02% DoD). Sectors contributing to the performance include Banks (-21.0pts), Technology (20.5pts), Power (-13.1pts), Vanaspati & Allied (-11.9pts) and Investment Banks (-8.7pts).

·        Volumes decreased from 189.2mn shares to 157.4mn shares (-16.8% DoD). Average traded value also decreased by 13.8% to reach US$ 20.8mn as against US$ 24.2mn.

·        Stocks that contributed significantly to the volume are TPLP, UNITY, PRL, OBOYR1 and SNGP.

Courtesy- AHL

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