PSX market performs well today

· Market performed well today, adding a total of 544pts on the board and closed at high note. Resolution of roll-over uncertainty in TRG helped investors take a positive view on the stock resulting in TRG hitting upper circuit. NETSOL on the other hand, remained under pressure with stock at lower circuit for the consecutive session. Oil prices also bounced overnight that helped E&P companies to inch up.

Cement and Steel sectors bounced back as well, after sustaining losses in the previous sessions. Among scrips, UNITY topped the volumes with 33.8M shares, followed by TELE (26.2M) and GGL (23.5M).

· The Index closed at 44,563pts as against 44,076pts showing an increase of 487pts (+1.1% DoD). Sectors contributing to the performance include Technology (+127pts), Banks (+84pts), Fertilizer (+61pts), Cement (+43pts) and Vanaspati (+31pts).

· Volumes declined from 238.4mn shares to 221.5mn shares (-8% DoD). Average traded value also declined by 11% to reach US$ 65.8mn as against US$ 73.8mn.

· Stocks that contributed significantly to the volumes include UNITY, TELE, GGL, TRG and HASCOL, which formed 50% of total volumes.

· Stocks that contributed positively to the index include TRG (+116pts), LUCK (+38pts), HBL (+32pts), UNITY (+31pts) and MCB (+23pts). Stocks that contributed negatively include PAKT (-26pts), KTML (-8pts), NESTLE (-6pts), ICI (-5pts) and DGKC (-3pts).

Courtesy – AHL

Posted in Article & Features.

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