The bullish trend at the PSX resumed today.

·    The bullish trend at the PSX resumed today. The benchmark KSE-100 index opened in the green and continued to trade in that territory throughout the session, owing to the positive dynamics generated by a potential staff level agreement between the government and the IMF for the 9th tranche of the Extended Fund Facility. Volumes increased dramatically after extraordinary financial earnings were announced by the Banking and Cements sector, boosting investor confidence.

·    The index closed at 41,167.60 pts, up by 217.76 pts (+0.53% DoD). Sectors contributing to the performance include Commercial Banks (+123.5pts), Cement (+66.0pts), Power Generation & Distribution (+53.4pts), Tobacco (+12.9pts), and Inv. Banks / Inv. Cos. / Securities Cos. (+11.8pts).

·    Volumes increased from 96.5mn shares to 196.5mn shares (+103.7% DoD). The average traded value also increased by 39.6% to USD 24.5mn as against USD 17.5mn.

·    Stocks that contributed significantly to the volumes are WTL, MLCF, OGDC, TPLP and BOP.

Courtesy- AHL

Posted in PSX.

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