The PSX concluded the week with a mixed session. The market opened in the green zone, although initially bulls drove the market but soon bears took the charge as investors opted to square-up their positions due to the rollover week. Market remained choppy throughout the day as Investors kept cautious trading approach owing to political noise along with no clarity from IMF board for the release of 9th tranche of the IMF Extended Fund Facility. trading volumes remained healthy as investors opted for value hunting in high dividend yielding stocks.
The index closed at 40,707.76 pts, down by 130.75 pts (-0.32% DoD). Sectors contributing to the performance include Commercial Banks (-112.3pts), E&P’s (-41.5pts), Technology & Communication (-29.9pts), OMCs (-26.2pts), and Glass & Ceramics (-8.2pts).
Volumes increased from 150.2mn shares to 153.4mn shares (+2.1% DoD). The average traded value decreased by 13.8% to USD 19.1mn as against USD 22.1mn.
Stocks that contributed significantly to the volumes are WTL, MLCF, TPLP, OGDC, & HUBC.