Profit selling was witnessed at the PSX today

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· Profit selling was witnessed at the PSX today. The benchmark KSE-100 index opened in the green but soon the jobbers took over as profit selling kept the market choppy, as investors opted to book profits after 3 consecutive positive sessions closing the bourse in the red. Investors participation remained healthy throughout the day as the 3rd tier stocks led the volume board.

· The index closed at 41,686.46 down by 456.25pts (-1.08% DoD). Sectors contributing to the performance include Commercial Banks (-131.9pts), Technology & Communication (-89.5pts), E&P’s (-81.5pts), Cement (-49.4pts) and OMCs (-34.2pts).

· Volumes decreased from 332.5mn shares to 203.8mn shares (-38.7% DoD). The average traded value also decreased by 19.3% to USD 20.1mn as against USD 25.0mn.

· Stocks that contributed significantly to the volumes were UNITY, WTL, TPLP, PRL and PIAA.

Courtesy – AHL

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