· The bulls took charge at the PSX today. The market opened in the green and continued to trade with optimistic sentiments throughout the trading session, reaching an intraday high of 826.83 points as a result of ongoing negotiations in the capital city between the government and the IMF mission. Investors’ involvement remained adequate due to the potential positive outcomes of the IMF talks, Decent volumes observed across the board.
· The index closed at 40,673.06 pts, up by 801.79 pts (+2.01% DoD). Sectors contributing to the performance include Fertilizer (+166.0pts), Commercial Banks (+122.4pts), E&P’s (+106.0pts), Cement (+82.9pts), and Miscellaneous (+79.2pts).
· Volumes increased from 140.5mn shares to 153.3mn shares (+9.2% DoD). The average traded value also increased by 37.2% to USD 27.8mn as against USD 20.2mn.
· Stocks that contributed significantly to the volumes are WTL, PPL, PRL, MLCF and FCCL.