Another bearish session witnessed at PSX today due to major hike in global commodity prices. Cement sector took a major correction today due to spike in international coal prices, whereas good participation was observed in E&P and OMC stocks as international oil prices made a record high $111.47. Healthy participation was observed during the day, as value investors accumulated blue chip stocks across the board.

The Index closed at 44,514.12pts as against 44,803.58pts showing a decrease of 289.46pts (-0.65% DoD). Sectors contributing to the performance include Cement (-84.3pts), Fertilizer (-59.4pts), Banks (-58.5pts), Power (-30.2pts) and Inv. Banks (-29.8pts).

Volumes decreased from 309.3mn shares to 235.0mn shares (-24.0% DoD). Traded value also decreased by 10.5% to reach US$ 52.6mn as against US$ 58.8mn.

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

Courtesy – AHL