PSX market remained volatile today due to mounting international oil prices

·        Market remained volatile today due to mounting international oil prices. Cement sector stayed under pressure due to higher international coal prices. In the chemical sector, EPCL made the journey to the north as it announced tremendous financial result beating market expectations. Physiological level of 46,000 was unable to digest by the investors as profit taking was witnessed across the board. Main board activity remained gloomy. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

·        The Index closed at 45,947.95pts as against 45,841.25pts showing an increase of 106.7pts (+0.23% DoD). Sectors contributing to the performance include Fertilizer (+80.9pts), Chemicals (+32.9pts), Inv. Banks (28.7pts), Textile Composite (23.8pts) and Power (+16.7pts).

·        Volumes increased from 150.1mn shares to 187.4mn shares (+24.8% DoD). Traded value also increased by 13.5% to reach US$ 40.7mn as against US$ 35.8mn.

·        Stocks that contributed significantly to the volumes include HUMNL, EPCL, WTL, KEL and PAEL.

Courtesy- AHL

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