PSX index maintains positive momentum today

· Market maintained positive momentum today with Auto sector performing to its best and helped maintain bullish trend for the market. Auto sector performed on the back of expectation of an increase in the number of auto sales. Cement and Steel sector stocks rallied as well, helping put a total of +333pts and closed the session +118pts. E&P, O&GMCs and Fertilizer sector stocks also contributed to the positivity in the Index. Technology sector saw NETSOL performing well, whereas other tech stocks bore selling pressure. Among scrips, WTL led the table with 89mn shares, followed by HASCOL (78.7M) and BYCO (54.3M).

· The Index closed at 48,212pts as against 48,094pts showing an increase of +118pts (+0.2% DoD). Sectors contributing to the performance include Autos (+35pts), O&GMCs (++25pts), E&P (+23pts), Pharma (+23pts) and +14pts).

· Volumes declined from 889.9mn shares as against 867.3mn (-3% DoD). Average traded value also declined by 16% to reach US$ 171.9mn as against US$ 204.5mn.

· Stocks that contributed significantly to the volumes include WTL, HASCOL, BYCO, FCSC and PTC, which formed 35% of total volumes.

· Stocks that contributed positively to the index include UBL (+16pts), GLAXO (+14pts), HCAR (+13pts), HASCOL (+12pts) and PSMC (+12pts). Stocks that contributed negatively include BAHL (-25pts), PSX (-11pts), MEBL (-9pts), KTML (-8pts) and COLG (-7pts).

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