PSX continues to bleed

·        Another down-close session today after a positive open zone. Continued pressure on the PKR softened sentiment to take the KSE-100 below 41k. All eyes now on the FED tonight and the quantum of rate increase.

·        The Index closed at 40,965.58pts, down by 255.3pts (-0.62% DoD). Sectors contributing to the performance include E&P (-91.9pts), Cement (-39.3pts), Technology (-26.9pts), Banks (-24.3pts) and OGMCs (-22.2pts).

·        Volumes increased from 156.2mn shares to 170.4mn shares (+8.8% DoD). The average traded value decreased by 14.8% to US$ 20.1mn as against US$ 23.7mn.

·        Stocks that contributed significantly to the volumes are KEL, TPLP, TRG, CNERGY and WTL.

Courtesy – AHL

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