PSX market bounced back today

· Post clearance of leveraged positions of Individual investors, market bounced back today with a jump of 1206pts during the session and a net increase of 1008pts at the end of session. Cement and Steel sectors contributed significantly to the surge in index. Technology stocks, which were the subject of leveraged positions, bounced back from session’s low, however, by the end of session selling commenced back in tech stocks, which brought the index down from session’s high. Besides, excitement of senate elections also had some bearing on the stock market, where a win on Government’s part was considered to be a source of confidence for the Investors. Among scrips, UNITY topped the volumes with 88.2M shares, followed by TRG (38.8M) and JSCL (17.7M).

· The Index closed at 43,788pts as against 42,780pts showing an increase of 1008pts (+2.4% DoD). Sectors contributing to the performance include Cement (+223pts), Banks (+151pts), E&P (+90pts), Power (+83pts) and O&GMCs (+70pts).

· Volumes increased from 406.1mn shares to 442.4mn shares (+9% DoD). Average traded value also increased by 22% to reach US$ 137.4mn as against US$ 112.7mn.

· Stocks that contributed significantly to the volumes include UNITY, TRG, JSCL, PRL and TELE, which formed 41% of total volumes.

· Stocks that contributed positively to the index include LUCK (+76pts), HUBC (+61pts), HBL (+46pts), PSO (+43pts) and SYS (+43pts). Stocks that contributed negatively include ANL (-9pts), ENGRO (-6pts), TRG (-4pts), ABOT (-2pts) and SHFA (-2pts).

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