Another bull run was recorded at the PSX today. The market resumed the trading session on a positive note and processed to make an intraday high of 1209.79 points after the government took positive measures to align with the IMF prerequisites before the resumption of talks for the revival of the IMF Program. The major confidence booster for the investors today proved to be the free float of exchange rate determined by the market as volumes soared up across the board.
The index closed at 40,846.53 pts, up by 1,061.63 pts (+2.67% DoD). Sectors contributing to the performance include Banks (+353.9pts), Fertilizer (+230.1pts), Cement (+100.4pts), Misc. (+81.4pts), and Power (+46.7pts).
Volumes increased from 269.5mn shares to 364.1mn shares (+35.1% DoD). The average traded value also increased by 23.8% to USD 56.7mn as against USD 45.8mn.
Stocks that contributed significantly to the volumes are CNERGY, TPLP, WTL, DGKC and MLCF. (Courtesy – AHL)