Pakistan stock market remains depressed today

· Market remained depressed trading in a narrow range between -81pts and +142pts, closing the session -13pts (unadjusted). Lack of direction in the market and docile reaction to price triggers (particularly Crude Oil) has led the market into obscurity. Selling pressure remained evident in Cement, E&P, O&GMCs, Steel, Technology and Power sectors. Textile sector did see some positive activity with NCL, NML, GATM and ILP showing better price performance. Among scrips, SILK realized trading volume of 75.1M shares, followed by WTL (48.2M) and KEL (37.4M).

· The Index closed at 47,987pts as against 48,013pts showing a decline of 25pts (-0.1% DoD). Sectors contributing to the performance include Textile (+68pts), Technology (+18pts), E&P (+16pts), Food (+12pts) and Miscellaneous (-32pts).

· Volumes declined from 839.2mn shares to 610.7mn shares (-27% DoD). Average traded value also declined by 2% to reach US$ 98.1mn as against US$ 100.5mn.

· Stocks that contributed significantly to the volumes include SILK, WTL, KEL, ANL and TPL, which formed 37% of total volumes.

· Stocks that contributed positively to the index include SYS (+30pts), KTML (+21pts), MARI (+21pts), ANL (+20pts) and GATM (+13pts). Stocks that contributed negatively include PSEL (-34pts), UNITY (-12pts), DAWH (-10pts), NBP (-10pts) and OGDC (-9pts).

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