Cement and Power sectors push up PSX index today

The benchmark index made yet another recent time high with one of the highest volumes, all courtesy of Cement and Power sectors. Market opened on a positive note today with +158pts and gained a total of 410pts, closing the session +320pts. Last 10 days of the month has a scheduled meeting of SBP to decide monetary policy stance with an anticipation of further rate cut. Cement sector continued the momentum with highest volumes on the bourse, totaling 83.2M shares, followed by Technology (68.2M) and Engineering (48.4M). Among scrips, HASCOL topped the volumes with 32.5M shares, followed by TRG (27.5M) and MLCF (23M).

· The Index closed at 37,651pts as against 37,331pts showing an increase of 320pts (+0.9% DoD). Sectors contributing to the performance include Power (+72pts), Cement (+47pts), E&P (+27pts), Textile (+26pts) and Engineering (+24pts).

· Volumes increased from 466mn shares to 553.8mn shares (+19% DoD0. Average traded value also increased by 23% to reach US$ 116.0mn as against US$ 94.1mn.

· Stocks that contributed significantly to the volumes include HASCOL, TRG, MLCF, FCCL and LOTCHEM, which formed 22% of total volumes.

· Stocks that contributed positively to the index include HUBC (+56pts), FCCL (+24pts), TRG (+19pts), KAPCO (+15pts) and LUCK (+14pts). Stocks that contributed negatively include ENGRO (-12pts), PAKT (-11pts), UBL (-9pts), HMB (-8pts), and NESTLE (-7pts)

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