· The bulls triumphed at the PSX to begin the week today. The market opened in the green and continued to trade with fervent sentiments as rumors of a possible tax on corporate reserves account made highlights in the market, as the investors opted to add value to their portfolios making the bourse reach an intraday high of 684.59 and eventually close in the green. Throughout the trading day, investors were active across the board as robust volumes were recorded, with third-tier equities dominating the volume board.
· The index closed at 41,340.06 up by 375.52pts (+0.92% DoD). Sectors contributing to the performance include Technology & Communication (+114.7pts), Fertilizer (+56.8pts), E&P’s (+53.2pts), Cement (+39.9pts), and Miscellaneous (+30.0pts).
· Volumes increased from 168.5mn shares to 346.3mn shares (105.6% DoD). The average traded value decreased by -5.7% to USD 22.4mn as against USD 23.8mn.
· Stocks that contributed significantly to the volumes are WTL, MLCF, KEL, DGKC, and GRR.