The PSX witnessed a positive session today.

· The PSX witnessed a positive session today. The benchmark KSE-100 index opened in green and kept hovering in a positive zone throughout the trading session, reaching an intraday high of 293.07 points, as investors adopted the strategy of value hunting on dips in anticipation of positive outcomes from the ongoing negotiations between the government’s finance team and the International Monetary Fund (IMF) Mission. Likely approval of refinery policy 2023 in the next CCoE meeting this week kept the refineries sector in the limelight while decent volumes were recorded across the board.

· The index closed at 40,949.84 pts, up by 276.20 pts (+0.68% DoD). Sectors contributing to the performance include Technology & Communication (+88.9pts), Miscellaneous (+60.6pts), Cement (+43.5pts), E&P’s (+31.7pts), and Power Generation & Distribution (+23.1pts).

· Volumes increased from 92.7mn shares to 96.5mn shares (+4.1% DoD). The average traded value also increased by 3.0% to USD 17.5mn as against USD 17.0mn.

· Stocks that contributed significantly to the volumes are TRG, WTL, HASCOL, OGDC and ILP.

Courtesy- AHL

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