After posting an increase in the past 3 consecutive sessions, the PSX index saw profit booking today

· After posting an increase in the past 3 consecutive sessions, the index saw profit booking today across the board, with PSO being the prominent one due to lower than anticipated payout despite high earnings. Similarly, Cement, Steel and E&P sectors saw selling activity which kept the index under pressure. The Index lost 373pts during the session and closed -275pts (unadjusted). Technology sector showed mixed reaction with AVN, NETSOL and SYS floating above LDCPs. Among scrips, WTL led the volumes with 43.6M shares, followed by TELE (30.9M) and GGL (25.5M).

· The Index closed at 47,828pts as against 48,112pts showing a decline of 284pts (-0.6% DoD). Sectors contributing to the performance include Cement (-64pts), Fertilizer (-60pts), Banks (-60pts), O&GMCs (-52pts) and E&P (-36pts).

· Volumes slightly declined from 397.6mn shares to 394.9mn shares. Average traded value also declined by 8% to reach US$ 82.8mn as against US$ 89.9mn.

· Stocks that contributed significantly to the volumes include WTL, TELE, GGL, BOP and ANL, which formed 36% of total volumes.

· Stocks that contributed positively to the index include PSEL (+37pts), HUBC (+22pts), MTL (+7pts), ARPL (+6pts) and PIBTL (+5pts). Stocks that contributed negatively include ENGRO (-50pts), PSO (-41pts), MEBL (-33pts), PPL (-29pts) and LUCK (-28pts).

Courtesy – AHL

Posted in Article & Features.

Leave a Reply

Your email address will not be published. Required fields are marked *