·      Bears took charge at the PSX today after consecutive bullish sessions. The benchmark KSE-100 opened in the red zone due to speculation of a policy rate hike in the coming days after yesterday’s T-Bills cutoff yields were at the higher side leading the index to plunge down and make an intraday low of -395.08 points. Prevailing political uncertainty kept the investors at bay, however across the board volumes remained healthy.

·      The index closed at 40,838.51 pts, down by 329.09 pts (-0.80% DoD). Sectors contributing to the performance include Commercial Banks (-80.4pts), E&P’s (-78.7pts), Technology & Communication (-48.5pts), Cement (-37.0pts), and OMCs. (-21.3pts).

·      Volumes decreased from 196.5mn shares to 150.2mn shares (-23.5% DoD). The average traded value also decreased by 9.7% to USD 22.1mn as against USD 24.4mn.

·      Stocks that contributed significantly to the volumes are WTL, MLCF, KAPCO, HUBC and DFML.

Courtesy – AHL