Growing Covid 19 cases influence PSX index today

· Market took toll from possibility of imposition of lock down in the light of NCOC proposal, although a firm decision is yet to be taken. Selling pressure was evident across the board with the exception of few scrips, including TRG, GGL, MCB and FFC, which somewhat supported the index. Overall the index lost 428pts during the session and closed the session -208pts (unadjusted). Refinery sector, which has lately coincided with technology stocks also went down following weak investor sentiment. Among scrips, WTL topped the volumes with 73.7M shares followed by TRG (42.1M) and GGL (38.8M).

· The Index closed at 44,978pts as against 45,186pts showing a decline of 208pts (-0.5% DoD). Sectors contributing to the performance include O&GMCs (-36pts), Banks (-32pts), Pharma (-26pts), Chemical (-23pts) and Cement (-23pts).

· Volumes declined from 688mn shares to 504mn shares (-27% DoD). Average traded value also declined by 21% to reach US$ 130.7mn as against US$ 165.9mn.

· Stocks that contributed significantly to the volumes include WTL, TRG, GGL, TELE and BYCO, which formed 42% of total volumes.

· Stocks that contributed positively to the index include TRG (+98pts), FFC (+24pts), MCB (+19pts), EFERT (+12pts) and LUCK (+6pts). Stocks that contributed negatively include ENGRO (-44pts), PSO (-25pts), OGDC (-22pts), SEARL (-21pts) and UBL (-16pts).

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