·    Today, the Bulls prevailed at the PSX. The session began in the negative zone, but bulls quickly turned the tide, with the index reaching an intraday high of 688.23 points. Investors rejoiced in the aftermath of optimism for the resumption of the stalled IMF program following the interest rate hike, which provided much needed clarity in the market, as well as the Finance Minister’s statement that the staff level agreement was anticipated in the coming week. Volumes remained robust across the board as investors sought to increase the value of their portfolio holdings

·    The index closed at 41,337 pts, up by 666.12pts (+1.64% DoD). Sectors contributing to the performance include E&P’s (+204.6pts), Commercial Banks (+93.3pts), Miscellaneous (+77.9pts), Technology & Communication (+72.2pts), and OMCs (+69.3pts).

·    Volumes increased from 152.1mn shares to 194.8mn shares (+28.0% DoD). The average traded value decreased by 2.4% to USD 27.9mn as against USD 28.5mn.

·    Stocks that contributed significantly to the volumes are BIPL, WTL, OGDC, BOP and PPL.

Courtesy- AHL