PSX index moved both sides yesterday

· Market moved both sides today with an oscillation of 563pts between +127pts and -436pts, closing the session -172pts (unadjusted). Early part of the session saw an uptick in index, however profit booking settled in, which brought the index in negative zone. Technology sector received the major thrashing today with NETSOL hitting lower circuit and AVN taking significant drawdown. Similar activity was witnessed in Refinery sector, which saw ATRL and NRL under severe pressure. E&P sector stood out with OGDC, PPL and POL contributing positively to the Index. Among scrips, WTL topped the volumes with 39.6M shares, followed by UNITY (36.1M) and BYCO (29.2M).

· The Index closed at 45,074pts as against 45,297pts showing a decline of 223pts (-0.5% DoD). Sectors contributing to the performance include Banks (-63pts), Cement (-61pts), Autos (-27pts), Technology (-20pts) and Textile (-16pts).

· Volumes declined further from 443.7mn shares to 369.5mn shares (-17% DoD). Average traded value also declined by 5% to reach US$ 69.7mn as against US$ 73.2mn.

· Stocks that contributed significantly to the volumes include WTL, UNITY, BYCO, HUMNL and KEL, which formed 38% of total volumes.

· Stocks that contributed positively to the index include COLG (+23pts), HUBC (+14pts), ENGRO (+13pts), OGDC (+12pts) and AGP (+11pts). Stocks that contributed negatively include TRG (-26pts), MCB (-26pts), CHCC (-19pts), INDU (-18pts) and FFBL (-13pts).

Courtesy – AHL

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