The PSX market witnessed bloodbath throughout the day

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· The market witnessed bloodbath throughout the day today, due to further devaluation of Pak rupee against USD and uncertainty regarding debt repayments and depletion of foreign exchange reserve led the investors to remain sideline from the market as they await a positive trigger by IMF revival program. The session remained dull as profit selling was observed across the board. On the contrary, hefty volumes were observed in the 3rd tier stocks.

· The Index closed at 43,393.14pts, down by 1,447.67pts (-3.23% DoD). Sectors contributing to the performance include Banks (-305.1pts), Cements (-237.0pts), Technology (-183.2pts), and E&P (-130.0pts).

· Volumes increased from 189.5mn shares to 305.2mn shares (+61.1% DoD). Average traded value also increased by 63.2% to reach US$ 49.2mn as against US$ 30.1mn.

· Stocks that contributed significantly to the volumes included LOTCHEM, CNERGY, WTL, TELE and GGL.

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