PSX market traded range bound today

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Market traded range bound today, although remained positive the entire session, but lacked the excitement from Investors’ end to make a forward move. International crude oil prices increased after OPEC+ made the decision for a gradual increase in output in 2021. E&P stocks responded cautiously to the price increase. O&GMCs, Cement sector stocks saw selling pressure on the concerns over political uncertainty as well as Index correction after an increase of around 2800pts. The index went up by 269pts during the session, however, selling pressure in the last half hour brought the index down slightly, closing the session +159pts. Among scrips, TRG posted 42.6M shares in trading volumes, followed by PRL (30.9M) and PTC (21.7M).

· The Index closed at 42,207pts as against 42,048pts showing an increase of 159pts (+0.4% DoD). Sectors contributing to the performance include E&P (+61pts), Banks (+57pts), Technology (+31pts), O&GMCs (-16pts) and Fertilizer (-12pts).

· Volumes increased slightly from 420.3mn shares to 427.5mn shares (+2% DoD). Average traded value also increased by 0.5% to reach US$ 113.2mn as against US$ 112.6mn.

· Stocks that contributed significantly to the volumes include TRG, PRL, PTC, ASL and KEL, which formed 32% of total volumes.

· Stocks that contributed positively to the index include OGDC (+38pts), TRG (+26pts), UBL (+15pts), PPL (+12pts) and HMB (+11pts). Stocks that contributed negatively include FFC (-12pts), MTL (-11pts), SNGP (-8pts), PSO (-7pts) and EFERT (-6pts).

(AHL)

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