PSX index shows a decline of 369pts today

· Market tumbled in later part of the session today, which brought the index down by more than 400pts and closed the session -369pts. Concerns over latest COVID lockdown and probe by the regulator on account of unusual price movement in certain stocks brought the market under selling pressure and became the major reasons for sentiment weakness. Earlier part of the session saw institutional investors building positions in Cement and Steel sectors that caused the pertinent scrips to show healthy price uptick, however, later activity in the market brought the stock prices down. Among scrips, WTL topped the volumes with 40.4M shares, followed by BYCO (26.8M) and TELE (13.2M).

· The Index closed at 47,318pts as against 47,687pts showing a decline of 369pts (-0.9% DoD). Sectors contributing to the performance include Technology (-90pts), Cement (-42pts), Refinery (-33pts), Banks (-31pts) and E&P (-30pts).

· Volumes increased from 432.6mn shares to 365.8mn shares (-16% DoD). Average traded value also dipped by 12% to reach US$ 76.0mn as against US$ 85.9mn.

· Stocks that contributed significantly to the volumes include WTL, BYCO, TELE, UNITY and KEL, which formed 29% of total volumes.

· Stocks that contributed positively to the index include KTML (+24pts), MEBL (+14pts), COLG (+14pts), PAKT (+4pts) and DAWH (+4pts). Stocks that contributed negatively include TRG (-73pts), UNITY (-25pts), NRL (-17pts), HUBC (-16pts) and LUCK (-16pts).

Courtesy – AHL

Posted in Article & Features.

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