· PSX closed down on the day having failed to regain the 42k level after a bullish open. Big week for global rates with the FED expected to hike rates by at least 75bps kept sentiments in check. PKR continued to lose ground vs the USD despite Saudi Fund for Development rolling over USD 3bn for a year.
· The Index closed at 41,520.59pts, down by 158.9pts (-0.38% DoD). Sectors contributing to the performance include Banks (-63.5pts), Cement (-31.0pts), Chemical (-30.6pts), OGMCs (-19.2pts) and Glass (-14.9pts).
· Volumes decreased from 219.4mn shares to 148.2mn shares (-32.4% DoD). Average traded value also decreased by 15.4% to reach US$ 31.6mn as against US$ 37.4mn.
· Value leaders for the day were TRG which hit 120, TGL which closed at limit down following earnings, and ENGRO which was supported by rumors of a potential buyback.
· Stocks that contributed significantly to the volumes are TRG, TPLP, HASCOL, HUMNL, and EPCL.
Courtesy – AHL