PSX index receives 85pts today

· Market opened on a positive note today, however, saw continuation of selling pressure as witnessed in the past 2 sessions. The Index gained 236pts during the session and managed to stay afloat by closing +122pts (unadjusted). Selling pressure was observed in Banks, Cement and Steel sector, whereas Technology sector maintained an uptrend, with TRG hitting upper circuit upon announcement of its Board meeting. Similar performance was witnessed in NETSOL. BOP announced its financial results and unlike the activity observed in HBL, MEBL and MCB, BOP saw an uptick with increase in trading volume mainly due to the dividend declaration of Re. 1 that translates into more than 10% dividend yield on market rate. Among scrips, BYCO topped the volumes with 89.3M shares, followed by WTL (62.2M) and HUMNL (60.1M).

· The Index closed at 46,228pts as against 46,143pts showing an increase of 85pts (+0.2% DoD). Sectors contributing to the perfroamcne include Technology (+112pts), Autos (+38pts), Refinery (+11pts), Cement (-32pts), Pharma (-15pts) and Power (-15pts).

· Volumes increased from 577.9mn shares to 694.5mn shares (+20% DoD). Average traded value also increased by 7% to reach US$ 156mn as against US$ 145.8mn.

· Stocks that contributed significantly to the volumes include BYCO, WTL, HUMNL, BOP and TRG, which formed 45% of total volumes.

· Stocks that contributed positively to the index include TRG (+98pts), MTL (+47pts), SYS (+14pts), and BYCO (+11pts). Stocks that contributed negatively include HBL (-19pts), FCCL (-14pts), LUCK (-12pts), KAPCO (-12pts) and POL (-11pts).

 

Sharing is caring

Leave a Reply