PSX market traded in a narrow range today

· Market traded in a narrow range today with an oscillation of 404pts between +104pts and -300pts, closing the session -75pts (unadjusted). Steel, Refinery, Power and O&GMCs largely remained positive, whereas selling pressure was witnessed in Cement, Banks, E&P and Technology sectors. PKR slipped further in open market to cross 173 and interbank market remained under pressure and above 170, remaining a cause of concern for foreign investors, who have been sustaining losses on old positions in E&P and Banks. Among scrips, TPL led the volumes with 15.3M shares, followed by BYCO (14.2M) and HASCOL (14.1M).

· The Index closed at 44,872pts as against 44,900pts showing a decline of 28pts (-0.1% DoD). Sectors contributing to the performance include Cement (-51pts), E&P (-29pts), Power (-17pts), Chemical (+27pts), Engineering (+22pts) and Pharma (+18pts).

· Volumes declined from 372.4mn shares to 267.1mn shares (-28% DoD). Average traded value also dipped by 34% to reach US$ 52.9mn as against US$ 80.7mn.

· Stocks that contributed significantly to the volumes include TPL, BYCO, HASCOL, ASL and WTL, which formed 26% of total volumes.

· Stocks that contributed positively to the index include SNGP (+17pts), COLG (+16pts), HBL (+13pts), AVN (+11pts) and EPCL (+10pts). Stocks that contributed negatively include LUCK (-28pts), KEL (-25pts), MCB (-18pts), TRG (-17pts) and GHGL (-17pts).

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