·      Market remained range-bound today due to concerns over monetary tightening and resuming of foreign selling spree. Technology sector remained in the limelight throughout the day as traders placed the bet on high-beta stocks to mark quick trading gains. On the flip-side, Institutional investors fetched for value hunting as buying was observed in E&P and banking stocks. In the last trading hour, investors opted for profit booking specially in cement and steel stocks in expectation of interest rate hike by SBP in the upcoming monetary policy.

·      The Index closed at 47,032 pts as against 47,113 pts showing an decrease of 80.5 pts (-0.2% DoD). Sectors contributing to the performance include Technology (+193pts), Refinery (+22pts), Chemical (+19pts), Leather (+12) and Insurance (+7pts).

·      Volumes increased from 307mn shares to 381mn shares (+24.2% DoD). Average traded value also increased by 12.7% to reach US$ 91.5mn as against US$ 81.08mn.

·      Stocks that contributed significantly to the volumes include PTC, HASCOL, WTL, TRG and TPLP.

Courtesy – AHL