Another range-bound session was witnessed at the PSX today

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·      Another range-bound session was witnessed at the PSX today. The market opened in the positive zone however, due to the rupee-dollar parity and delayed 10th review of the IMF Program snapped investors’ confidence resulting in the index losing 214.38 points at the intraday low and closing in the red. Investor participation remained slow while 3rd tier scrips generated the most volumes.

·      The Index closed at 42,819.72pts, down by 164.03pts (-0.38% DoD). Sectors contributing to the performance include Technology & Communication (-28.0pts), Oil & Gas Marketing Companies (-27.1pts), E&P’s (-25.2pts), Food & Personal Care Products (-18.8pts), Vanaspati & Allied Industries (-12.6pts).

·      Volumes decreased from 186.7mn shares to 181.2mn shares (-2.9% DoD). The average traded value also decreased by 7.7% to USD 27.7mn as against USD 29.9mn.

·      Stocks that contributed volumes significantly are BIPL, UNITY, TELE, GCIL, and WTL.

Courtesy – AHL

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