PSX index adds 181pts today

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After posting a loss of ~1200pts since last Friday, market moved cautiously taking cue from stability in international crude oil prices as well as renewed buying activity in Cement sector scrips that added a total of 309pts during the session and closing +181pts. Besides Cement, Investors opted for Banks (HBL), O&GMCs (PSO), E&P (OGDC & PPL) and Engineering / Steel (ISL, INIL) that helped stage recovery in Index. Rollover week will end tomorrow, however, the pertinent scrips (UNITY, TRG and NETSOL) have largely covered ground to cause any concern. Among scrips, PRL topped the volumes with 26.9M shares, followed by MLCF (17.7M) and TRG (16.2M).

· The Index closed at 43,088pts as against 42,907pts showing an increase of 181pts (+0.4% DoD). Sectors contributing to the performance include Cement (+81pts), Autos (+19pts), Engineering (+18pts), Banks (+17pts) and Insurance (+17pts).

· Volumes declined from 561.8mn shares to 378.9mn shares (-33% DoD). Average traded value also declined by 22% to reach US$ 110.5mn as against US$ 140.9mn.

· Stocks that contributed significantly to the volumes include PRL, MLCF, TRG, ICIBL and UNITY, which formed 24% of total volumes.

· Stocks that contributed positively to the index include MLCF (+21pts), HBL (+20pts), LUCK (+18pts), ENGRO (+18pts) and CHCC (+13pts). Stocks that contributed negatively include MARI (-17pts), KTML (-10pts), POL (-10pts), FFC (-10pts) and MEBL (-9pts).

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