PSX market nosedived right from the opening today due to T-bill yields recorded 24 years high

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· Market nosedived right from the opening due to T-bill yields recorded 24 years high yesterday. The bench mark KSE-100 index traded in the red zone throughout the day as bears dominated the market and investor opted for profit selling, The secession remained volatile as selling was observed across the board, On the contrary hefty volumes were observed in 3rd tier stocks.

· The Index closed at 45,249.41pts, down by 283.89pts (-0.62% DoD). Sectors contributing to the performance include Technology (-56.9pts), Fertilizer (-49.5pts), Power (-46.5pts), and E&P (-43.7pts).

· Volumes increased from 223.8mn shares to 325.5mn shares (+45.4% DoD). Average traded value also increased by 66.4% to reach US$ 50.0mn as against US$ 30.0mn.

· Stocks that contributed significantly to the volumes included WTL, CNERGY, HUMNL, PAEL and LOTCHEM.

Courtesy – AHL

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