· The PSX witnessed a bloodbath session today. The benchmark KSE-100 index opened in the green zone. Still, prevailing economic instability and political uncertainty plunged the index to an intraday low of 1,432.94 points and concluded in the red zone. Whispers of delay in the IMF program and continuous political upheaval caused investors to lose confidence as they squared up their positions today. Volumes, on the other hand, remained healthy across the board.
· The index closed at 38,342.21 pts, down by 1,378.54 pts (-3.47% DoD). Sectors contributing to the performance include E&P’s (-240.40pts), Technology & Communication (-222.8pts), Commercial Banks (-199.0pts), Cement (-164.9pts), and Fertilizer (-138.1pts).
· Volumes increased from 105.5mn shares to 205.9mn shares (+95.1% DoD). The average traded value also increased by 109.2% to USD 29.35mn as against USD 14.0mn.
· Stocks that contributed significantly to the volumes are. KEL, WTL, SNGP, PPL and CNERGY.