Good news for investors as the Index closed at 42,012.66pts, up by 62.34pts despite political unrest,today

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·        Another negative session witnessed at PSX due to ongoing political noise which created panic among investors by pushing the KSE 100 index down further. The benchmark KSE-100 index made intraday low of 594 points and remained in red zone throughout the day, however in the last trading hour investors opted for value buying which helped the index to close in positive territory. Whereas, mainboard activity remained dry. On the contrary, hefty volumes were observed in the 3rd tier stocks.

·        The Index closed at 42,012.66pts, up by 62.34pts (+0.15% DoD). Sectors contributing to the performance include Technology (+42.6pts), Cement (+24.0pts), Chemical (+17.6pts), Vanaspati & Allied (+11.7pts) and Refinery (+11.6pts).

·        Volumes increased from 169.7mn shares to 240.0mn shares (+41.4% DoD). Average traded value also increased by 38.6% to reach US$ 37.5mn as against US$ 27.1mn.

·        Stocks that contributed significantly to the volumes are PRL, KEL, WTL, CNERGY and GGL.

Courtesy – AHL

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