· Another range-bound session was witnessed at the PSX today. The market opened in the green zone but due to the ongoing political uncertainty, investors chose to book profits at higher levels. Given President’s final approval for the COAS appointment remained pending, investor confidence remained lackluster. This resulted in lower market participation. Volumes on the mainboard remained sluggish, with third-tier stocks continuing to lead in terms of volume.
· The Index closed at 42,903.65pts, up by 23.34pts (+0.05% DoD). Sectors contributing to the performance include Fertilizer (+19.6pts), Tobacco (+17.3pts), Cement (+14.7pts), Inv. Banks / Inv. Cos. / Securities Cos. (+11.8pts), Power Generation & Distribution (+9.8pts).
· Volumes increased from 138.6mn shares to 153.1mn shares (+10.5% DoD). The average traded value also increased by 14.0% to USD 26.18mn as against USD 23.0mn.
· Stocks that contributed significantly to the volumes are WTL, TRG, HASCOL, JSBL, and DFML.
Courtesy – AHL