PSX index shows an increase of 229pts today

· Market performed well after closing the roll over week, where the index added a total of 332pts during the session and closed +229pts. The ascent in international crude oil prices, due to hurricane IDA, helped propel Oil and Gas chain, particularly E&P stocks. Power sector saw HUBC coming to the fore on the back of declaration of healthy dividends. Besides, Cement, Fertilizer, Steel and Technology stocks contributed positively to the Index. Banks, Autos and Textile sector saw continued profit booking. Among scrips, BYCO led the table with 42.9M shares, followed by GGL (29.8M) and WTL (26.7M).

· The Index closed at 47,365pts as against 47,136pts showing an increase of 229pts (+0.5% DoD). Sectors contributing to the performance include Banks (-109pts), Power (+76pts), Refinery (+43pts), E&P (+42pts), Cement (+41pts) and Fertilizer (+35pts).

· Volumes remained virtually the same at 382.6mn shares against 382.3mn shares the other day. Average traded value declined by 8% to reach US$ 74.3mn as against US$ 80.1mn.

· Stocks that contributed significantly to the volumes include BYCO, GGL, WTL, YOUW and TELE, which formed 38% of total volumes.

· Stocks that contributed positively to the index include HUBC (+75pts), ENGRO (+31pts), OGDC (+26pts), PPL (+22pts) and TRG (+17pts). Stocks that contributed negatively include MEBL (-49pts), HBL (-38pts), MCB (-14pts), MARI (-11pts) and UBL (-10pts).

 

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