PSX noticed profit taking across the board today

· Index opened on a positive note as the International Monetary Fund (IMF)’s Executive Board approved the loan tranche of $1 billion of its $6 billion Extended Fund Facility (EFF) for Pakistan. Physiological level of 46,000 was unable to digest by the investors as profit taking was witnessed across the board, which led the index to close in the red zone. Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

· The Index closed at 45,862.93pts as against 46,119.15pts showing decrease of 256.2pts (-0.56% DoD). Sectors contributing to the performance include Misc. (-65.8pts), Cement (-51.6pts), Banks (-47.9pts), E&P (-39.6pts) and Power (-18.5pts).

· Volumes decreased from 360.8mn shares to 328.0mn shares (-9.1% DoD). Traded value also decreased by 3.9% to reach US$ 59.9mn as against US$ 62.3mn.

· Stocks that contributed significantly to the volumes include WTL, TELE, GGL, HUMNL and TREET.

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