Bulls and bears engaged in battle at the PSX today

·        Bulls and bears engaged in battle at the PSX today throughout the trading session. In anticipation of a rate cut in the monetary policy today, the market opened in the green and remained positive for the majority of the day. The main board volumes fell from the previous close as investors participation remained sluggish although 3rd tier stocks remained in the limelight.

·        The Index closed at 42,211.64pts, up by 126.39pts (0.30% DoD). Sectors contributing to the performance include Technology (+92.4pts), Cement (+36.2pts), E&P’s (+23.9pts), Chemicals (+16.9pts) and Cable & Electrical Goods (+13.2pts).

·        Volumes decreased from 313.3mn shares to 240.2mn shares (-23.3% DoD). The average traded value increased by 12.8% to US$ 48.3mn as against US$ 42.8mn.

·        Stocks that contributed significantly to the volumes are WTL, PAEL, TRG, UNITY and LOTCHEM.

Courtesy – AHL

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Posted in PSX.

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