PSX index a major draw down today by losing 772pts during the session

· Market saw a major draw down today by losing 772pts during the session. Initially, the index gained 144pts, however, across the board selling pressure brought the index down. Supreme Court’s decision on Senate Election was viewed against the back drop of Govt.’s plea and concerned investors to keep the liquidity intact rather than hold on to positions. TRG announced financial results today, which saw profit booking that brought the stock below LDCP. Among the few stocks that traded positive include STCL, MUGHAL, ATRL, NRL. Last half an hour saw brisk buying with index closing -255pts (unadjusted). Among scrips, ANL topped the volumes with 31.7M shares, followed by TRG (24.6M) and UNITY (21.1M).

· The Index closed at 45,593pts as against 45,865pts showing a decline of 272pts (-0.6% DoD). Sectors contributing to the performance include Banks (-103pts), Textile (-27pts), Pharma (-26pts), Power (-23pts), Technology (-19pts) and Chemical (+22pts).

· Volumes declined from 479.9mn shares to 368.3mn shares (-23% DoD). Average traded value also declined by 29% to reach US$ 116.4mn as against US$ 162.8mn.

· Stocks that contributed significantly to the volumes include ANL, TRG, UNITY, HUMNL and BYCO, which formed 32% of total volumes.

· Stocks that contributed positively to the index include EPCL (+18pts), COLG (+12pts), PAKT (+9pts), LUCK (+8pts) and ANL (+6pts). Stocks that contributed negatively include UBL (-39pts), HBL (-32pts), BAHL (-18pts), PSO (-13pts) and MARI (-12pts).

Courtesy – AHL

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