PSX Index closed at 40,564pts

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Market took the bantering on rising COVID cases as well as Government’s initiative to increase the social distancing efforts. OGRA’s decision to slash UFG allowance on RLNG affected SNGP’s prospects causing the stock to hit lower circuit. Cement sector stocks carried the negative vibes from yesterday that came from lower dispatches in the first week of November vis-à-vis last month and year. Selling activity took over the bourse with major impact coming from E&P and Banks, which was partly due to profit booking as well. Among scrips, UNITY topped the volumes with 29.5M shares, followed by SNBL (22.5M) and TRG (19.6M).

· The Index closed at 40,564pts as against 41,197pts showing a decline of 633pts (-1.5% DoD). Sectors contributing to the performance include Banks (-134pts), E&P (-117pts), Cement (-83pts), O&GMCs (-78pts) and Power (-47pts).

· Volumes increased from 244.2mn shares to 328.3mn shares (+34% DoD). Average traded value also increased by 31% to reach US$ 71.4mn as against US$ 54.5mn.

· Stocks that contributed significantly to the volumes include UNITY, SNBL, TRG, MLCF and ASC, which formed 33% of total volumes.

· Stocks that contributed positively to the index include SYS (+31pts), ATLH (+5pts), GHGL (+3pts), MUREB (+2pts) and BAFL (+1pts). Stocks that contributed negatively include HBL (-43pts), OGDC (-43pts), PPL (-41pts), HUBC (-38pts) and UBL (-35pts).

(AHL)

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