The new week got off to a solid start for the PSX with a strong momentum

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·        The new week got off to a solid start for the PSX with a strong momentum. The benchmark KSE-100 index opened in the green and moved in the same range throughout the day, due to favourable expectations of monetary inflows from Saudi Arabia and China, as well as attractive valuations of stocks kept the investors involved in the market. The 3rd tier stocks had respectable volumes while overall volumes remained robust.

·        The Index closed at 42,047.36pts, up by 191.05pts (+0.46% DoD). Sectors contributing to the performance include Technology & Communication (+36.9pts), E&P’s (+31.4pts), OMC’s (+23.4pts), Power Generation & Distribution (+21.5pts) and Commercial Banks (+16.8pts).

·        Volumes decreased from 298.1mn shares to 240.2mn shares (-19.4% DoD). The average traded value also decreased by -0.2% to USD 24.58mn as against USD 24.63mn.

·        Stocks that contributed significantly to the volumes are WTL, DFML, HASCOL, SSGC and TPLP.

Courtesy – AHL

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