Positive momentum witnessed across the board in PSX today

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·        The market ended a week-long negative momentum as the investors rejoiced over much-needed clarity on the political front. Despite opening in the red zone bulls took over as investors got vital confidence over the opposition party calling off the Long March. Positive momentum was witnessed across the board as investors opted for value buying throughout the day. Healthy volumes were witnessed in the market although 3rd tier stocks were more active.

·        The Index closed at 42,541.71pts, up by 529.05pts (+1.26% DoD). Sectors contributing to the performance include Technology (+347.1pts), Cement (+73.7pts), Banks (+63.1pts), Fertilizer (+32.1pts) and OMC’s (+29.5pts).

·        Volumes increased from 240.0mn shares to 347.1mn shares (+44.6% DoD). Average traded value also increased by 19.4% to reach US$ 44.8mn as against US$ 37.5mn.

·        Stocks that contributed significantly to the volumes are PRL, CNERGY, ELE, GGL and TPLP.

Courtesy- AHL

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