PSX witnessed a bullish momentum today

· PSX witnessed a bullish momentum today due to prolong awaited decision from the Supreme Court announced last night created clarity among investors. Moreover, appreciation of Pak rupee against US Dollar was even a big relief to investors. In the first trading hour, rally was witnessed in the Banking, E&P and Refinery sectors. Steel sector remained under pressure due to recent hike in interest rates. In the last trading hour, buying activity was observed across the board.

· The Index closed at 44,444.58, up by 657.75pts (+1.50% DoD). Sectors contributing to the performance include Banks (+328.1pts), E&P’s (+80.5pts), Cement (+52.1pts), Technology (+33.6 pts) and Fertilizer (+30.5pts).

· Volumes increased from 141.0mn shares to 227.9mn shares (+61.6% DoD). Average traded value also increased by 36.2% to reach US$ 36.7mn as against US$ 27.0mn.

· Stock that contributed significantly to the volumes are TELE, GGL, TREET, CNERGY and TPLP.

Courtesy – AHL

Posted in PSX.

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