PSX sees the cement sector performs in the expectation of an increase in cement price / bag today

· Market remained positive today, adding a total of 272pts during the session and closed +245pts (unadjusted). O&GMCs bore selling pressure on the news of the cancellation of operating licenses and probe by the government, whereas E&P sector responded positively to the increase in international crude oil prices.

Cement sector also performed in the expectation of an increase in cement price / bag.

Technology sector stocks led the index today with across the board strong price performance, particularly from NETSOL, WTL and SYS. Among scrips, WTL led the table with 149.5M shares, followed by UNITY (66.8M) and TELE (37.6M).

· The Index closed at 46,301pts as against 46,097pts showing an increase of 204pts (+0.4% DoD). Sectors contributing to the performance include Banks (+154pts), Cement (+39pts), Vanaspati (+32pts), Fertilizer (+17pts) and Textile (+17pts).

· Volumes declined from 766.6mn shares to 677.4mn shares (-12% DoD). Average traded value however, increased by 18% to reach US$ 152.3mn as against US$ 129.7mn.

· Stocks that contributed significantly to the volumes include WTL, UNITY, TELE, HUMNL and BYCO, which formed 46% of total volumes.

· Stocks that contributed positively to the index include HBL (+68pts), UBL (+31pts), UNITY (+31pts), DGKC (+21pts) and EFERT (+16pts). Stocks that contributed negatively include COLG (-27pts), HUBC (-19pts), MARI (-15pts), TRG (-10pts) and PSO (-8pts).

Courtesy – AHL

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