PSX sees persistent selling pressure today

· Market saw persistent selling pressure that was felt across the board and made the index trade between -201pts and +246pts, closing the session -173pts (unadjusted). Among E&P, OGDC and PPL both traded below LDCP against POL, which showed price uptick. Cement sector also traded in a narrow range. Although KEL & WTL retained top slot, volumes remained relatively low. Among scrips, KEL realized 114.9M shares in trading, followed by WTL (86.4M) and BYCO (63M).

· The Index closed at 48,481pts as against 48,633pts showing a decline of 152pts (-0.3% DoD). Sectors contributing to the performance include Textile (+25pts), Cement (-54pts), Banks (-33pts), Chemical (-24pts), Fertilizer (-17pts) and Pharma (-16pts).

· Volumes declined from 1224.5mn shares to 936.7mn shares (-24% DoD). Average traded value also declined by 21% to reach US$ 142.7mn as against US$ 179.8mn.

· Stocks that contributed significantly to the volumes include KEL, WTL, BYCO, HASCOL and GGGL, which formed 38% of total volumes.

· Stocks that contributed positively to the index include HUBC (+27pts), PAKT (+17pts), POL (+16pts), KTML (+16pts) and SRVI (+9pts). Stocks that contributed negatively include ENGRO (-21pts), PPL (-17pts), COLG (-15pts), KEL (-14pts) and DGKC (-14pts).

(AHL).

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