PSX sees buying activity across the board today

According to a report of AHL, Pakistan stock market opened on a positive note today with +23pts and added a total of 655pts on the board. Buying activity was observed across the board; however, the Power sector (HUBC) contributed heavily. Cement, Fertilizer, Banks, E&P and OMCs also helped the Index put a formidable number. International crude oil prices inched up as well during the session, which allowed the E&P sector to see brisk buying activity. Earlier in the session, FBR reportedly facilitated Investors by announcing a collection of CGT once a year in comparison with the monthly group as practiced more before. Among scrips, UNITY led the table with 67.8M shares, followed by TRG (37.1M) and HUMNL (32.5M).

· The Index closed at 41,665pts as against 41,069pts showing an increase of 596pts (+1.5% DoD). Sectors contributing to the performance include Power (+121pts), Banks (+78pts), Cement (+54pts), Fertilizer (+54pts) and E&P (+36pts).

· Volumes increased from 388.5mn shares to 489.6mn shares (+26% DoD). Average traded value also increased by 39% to reach US$ 121.9mn as against US$ 87.9mn.

· Stocks that contributed significantly to the volumes include UNITY, TRG, HUMNL, PIBTL and PRL, which formed 37% of total volumes.

· Stocks that contributed positively to the index include HUBC (+110pts), ENGRO (+32pts), PAKT (+28pts), MEBL (+23pts) and UNITY (+20pts). Stocks that contributed negatively include JLICL (-11pts), NESTLE (-5pts), BAFL (-3pts), SCBPL (-2pts) and FML (-2pts).

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