The market stayed under pressure throughout the day due to concerns over mounting

·        The market stayed under pressure throughout the day due to concerns over mounting inflation and expected rate hike in the upcoming monetary policy. The benchmark KSE-100 index opened in the green zone but soon witnessed profit-taking. Volumes remained dry in the main board although decent volumes were witnessed in the 3rd tier stocks.

·        The Index closed at 41,348.19pts, down by 282.16pts (-0.68% DoD). Sectors contributing to the performance include Fertilizer (-72.6pts), Cement (-60.8pts), E&P (-33.2pts), Automobile Assembler (-18.9pts) and Pharmaceuticals (-12.9pts).

·        Volumes decreased from 154.0mn shares to 86.6mn shares (-43.8% DoD). Average traded value also decreased by 24.4% to reach US$ 14.9mn as against US$ 19.7mn.

·        Stocks that contributed significantly to the volumes are SNGP, AGL, PRL, MLCF and WTL.

Courtesy- AHL

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