PSX stayed in the bullish zone as investors became optimistic due to the highest ever textile exports during 1HFY22

· Market stayed in the bullish zone as investors became optimistic due to the highest ever textile exports during 1HFY22. Market opened under pressure as fears uplifted due to coronavirus rising cases in Pakistan. After one hour of market opening, traders took aggressive bet on tech stocks. Rally in banking sector was observed due to the expectation of foreign inflows. Cement sector stayed in the green zone due to the decline in international coal prices. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

· The Index closed at 45,887.6pts as against 45,345.7pts showing an increase of 542pts (+1.2% DoD). Sectors contributing to the performance include Banks (+205pts), Power (+70pts), Cement (+64pts), Misc (+56pts) and Technology (+49pts).

· Volumes increased from 242mn shares to 357mn shares (+47.3% DoD). Traded value also increased by 49.6% to reach US$ 67.2mn as against US$ 44.9mn.

· Stocks that contributed significantly to the volumes include UNITYR3, WTL, TRG, HUMNL and TELE.

Courtesy – AHL

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