· The bears prevailed at the PSX today. The benchmark KSE-100 index opened in the green but soon the bears took over as unstable economic situation of the country kept the investors to trim down weight, selling was witnessed in the second half of the session closing the bourse in the deep red. Volumes remained healthy throughout the days as the 3rd tier stocks led the volume board.
· The index closed at 40,220.79 down by 432.24pts (-1.06% DoD). Sectors contributing to the performance include Chemical (-67.2pts), E&P’s (-51.4pts), Technology & Communication (-50.2pts), Commercial Banks (-50.2pts) and Fertilizer (-45.9pts).
· Volumes decreased from 124.9mn shares to 97.0mn shares (-22.3% DoD). The average traded value also decreased by 12.5% to USD 12.3mn as against USD 14.1mn.
· Stocks that contributed significantly o the volumes were WTL, BIPL, SHEL, BOP and OGDC.
Courtesy – AHL