PSX sees value buying which led the index to close in the green zone today

· Index opened in the red territory due to political unrest and further PKR devaluation against dollar. Market remained volatile throughout the day. However, rally in UBL and MCB was witnessed due to expectation of foreign selling spree in banking sector getting over. Cement sector remained in the limelight due to decline in international coal prices. In the second session, value buying was witnessed which led the index to close in the green zone.

· The Index closed at 45,152.11, up by 223.28pts (+0.50% DoD). Sectors contributing to the performance include Banks (+125.7pts), Technology (+34.1pts), Fertilizer (+31.96pts), Auto Assemblers (+28.3 pts) and Textile (+14.2pts).

· Volumes decreased from 415.6mn shares to 389.1mn shares (-6.4% DoD). Average traded value increased by 14.8% to reach US$ 60.3mn as against US$ 52.6mn.

· Stocks that contributed significantly to the volumes include TELE, TPLP, TREET, PAELR3 and GGL.

Courtesy – AHL

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