Pakistan stocks report profit taking today

· Market traded in the positive zone for most part of the session, however, profit booking in Cement, Banks, Textile and E&P sector brought the index down by 117pts, closing the session -70pts (unadjusted). Among O&GMCs, PSO inched up on the expectation of release of funds, whereas Steel sector performed on the possibility of reduction of duties in the upcoming budget. Technology stocks saw activity in TRG and NETSOL. Among volume leaders, WTL led with 134.6M shares, followed by FNEL (48.1M) and ICIBL (42.4M).

· The Index closed at 48,094pts as against 48,127pts showing a decline of 33pts (-0.1% DoD). Sectors contributing to the performance include Cement (-45pts), Banks (-35pts), Fertilizer (-26pts), Technology (+42pts) and O&GMCs (+19pts).

· Volumes declined from 1,046mn as against 890mn shares (-15% DoD). Average traded value however, increased by 14% to reach US$ 205mn as against US$ 179mn.

· Stocks that contributed significantly to the volumes include WTL, FNEL, ICIBL, TRG and HUMNL, which formed 32% of total volumes.

· Stocks that contributed positively to the index include TRG (+44pts), MEBL (+23pts), PSO(+12pts), INIL (+10pts) and SEARL (+8pts). Stocks that contributed negatively include LUCK (-48pts), BAHL (-17pts), MTL (-16pts), ENGRO (-16pts) and UNITY (-15pts).

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