Selling activity was observed by PSX today

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· Market traded in a narrow range between -114pts & +188pts, closing the session -58pts. Selling activity was observed almost across the board, but was more prominent in Cement, Banks and O&GMC sectors. Engineering (Steel) sector performed well in relative terms on the back of expectation of an increase in product prices. Among scrips, HUMNL topped the volumes with 66.3M shares, followed by POWER (45.2M) and FFBL (23.7M).

· The Index closed at 45,931pts as against 45,990pts showing a decline of 58pst (-0.1% DOD). Sectors contributing to the performance include Banks (-50pts), Cement (-33pts), Fertilizer (-20pts), Tobacco (-18pts) and Chemical (-16pts).

· Volumes declined further from 620.7mn shares to 531.1mn shares (-15% DoD). Average traded value also declined by 10% to reach US$ 111.3mn as against US$ 123.6mn.

· Stocks that contributed significantly to the volumes include HUMNL, POWER, FFBL, TRG and KOSM, which formed 33% of total volumes.

· Stocks that contributed positively to the index include HUBC (+24pts), NATF (+18pts), GHGL (+13pts), INIL (+11pts) and APL (+11pts). Stocks that contributed negatively include MCB (-22pts), HBL (-20pts), PAKT (-18pts), LUCK (-11pts) and EFERT (-10pts).

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