Range bound session observed in PSX today due to political unrest and PKR devaluation against dollar

Range bound session was observed today due to political unrest and PKR devaluation against dollar. Market opened in the green zone but stayed volatile throughout the day. Main board activity remained dull. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. In the last trading hour, profit taking was witnessed which led the index to close in the red zone.

The Index closed at 43,203.79pts, down by 26.43pts (-0.06% DoD). Sectors contributing to the performance include Banks (-36.2pts), E&P (-25.1pts), Cements (-18.9pts), and Automobile Parts (-12.0pts).

Volumes increased from 124.9mn shares to 138.3mn shares (+10.7% DoD). Average traded value also increased by 27.2% to reach US$ 27.5mn as against US$ 21.7mn.

Stocks that contributed significantly to the volumes include TREET, TPLP, PAELR3, SMBL and TEL.

Courtesy – AHL

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Posted in PSX.

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