PSX: today investors opted for profit taking across the board

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· The market opened in the positive zone as the International Monetary Fund’s executive board approved the extended loan facility for Pakistan. However, later in the day investors opted for profit taking across the board which made the index to close in the red. Main board volumes remained decent although hefty volumes were witnessed in the 3rd tier stocks.

· The Index closed at 42,195.25pts, down by 309.09pts (-0.73% DoD). Sectors contributing to the performance include Banks (-96.0pts), Fertilizer (-48.9pts), Cements (-34.0pts), E&P’s (-31.85pts) and Chemicals (-30.5pts).

· Volumes increased from 229.2mn shares to 237.7mn shares (+3.7% DoD). Average traded value also increased by 0.4% to reach US$ 33.2mn as against US$ 33.1mn.

· Stocks that contributed significantly to the volumes are KEL, WTL, UNITY, FCCL and PRL.

Courtesy – AHL


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