· A range-bound session was recorded at the PSX today. The market opened in the green zone and traded within a narrow range throughout the day, reaching an intraday high of 244.99 points as investors await the government and IMF to reach an SLA between the government and IMF. Market participation remained dull due to the prevailing political uncertainty. Low volumes were recorded across the board as investors booked profit at the day’s end.
· The index closed at 41,694.09pts, down by 179.95pts (-0.43% DoD). Sectors contributing to the performance include E&P’s (-114.0pts), Miscellaneous (-67.0pts), Technology & Communication (-21.8pts), Inv. Banks / Inv. Cos. / Securities Cos. (-20.2pts), and Power Generation & Distribution (-15.4pts).
· Volumes increased from 233.3mn shares to 234.7mn shares (+0.6% DoD). The average traded value decreased by -11.5% to USD 26.4mn as against USD 29.8mn.
· Stocks that contributed significantly to the volumes are TELE, GGL, MLCF, TPLP and AGP.
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