· The PSX witnessed a positive session today. The benchmark KSE-100 index opened in green and remained positive throughout the trading session, as Investors adopted the strategy of value hunting on dips in anticipation of positive outcomes from the ongoing negotiations of the government’s finance team with the International Monetary Fund (IMF). The E&P sector remained in limelight today, strengthening the bulls to secure their position and making an intraday high of 273 points as the market closed in the green zone. Healthy volumes were recorded across the board.
· The index closed at 38,831.58 pts, up by 40.49 pts (+0.10% DoD). Sectors contributing to the performance include E&P’s (+116.9pts), Technology & Communication (+60.1pts), OMCs (+26.1pts), Chemical (+11.8pts), and Refinery (+6.2pts).
· Volumes increased from 153.1mn shares to 157.8mn shares (+3.1% DoD). The average traded value also increased by 27.7% to USD 28.0mn as against USD 21.9mn.
Stocks that contributed significantly to the volumes are PPL, TRG, OGDC, SNGP and CNERGY.