· A range-bound session was witnessed at the PSX today. The market opened in positive zone but lack of investors’ participation plunged the index down into the red and continued to trade in the same zone for most of the trading session. Market participation was comparatively lower than the previous session as volumes remained dry in the main board however, decent volumes were recorded in the 3rd tier stocks.
· The Index closed at 42,880.31pts, down by 48.31pts (-0.11% DoD). Sectors contributing to the performance include Power Generation & Distribution (-65.8pts), Commercial Banks (-19.8pts), Miscellaneous (-18.5pts), Cement (-10.9pts), Tobacco (-10.0pts).
· Volumes decreased from 196.0mn shares to 138.6mn shares (-29.3% DoD). The average traded value also decreased by 24.4% to USD 23.0mn as against USD 30.3mn.
· Stocks that contributed significantly to the volumes are WTL, TPLP, HUBC, BIPL and TRG.
Courtesy – AHL