The short week concluded today with a range-bound session at the PSX

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· The short week concluded today with a range-bound session at the PSX. The benchmark KSE-100 index opened negative after the SBP raised interest rates by 100bps in a last-ditch MPC meeting yesterday to resume the stalled IMF program. The market traded in the red most of the day, but it ended in the green as investors chose to add value to their portfolios. Across the board, volumes remained healthy.

· The index closed at 41,452.68, up by 15.58pts (+0.04% DoD). Sectors contributing to the performance include Commercial Banks (+120.1pts), Power Generation & Distribution (+9.7pts), Tobacco (+9.7pts), Engineering (+9.4pts) and Inv. Banks / Inv. Cos. / Securities Cos. (+5.9pts).

· Volumes increased from 226.85mn shares to 234.7mn shares (+3.5% DoD). The average traded value also increased by 7.0% to USD 26.2mn as against USD 24.6mn.

· Stocks that contributed significantly to the volumes were BIPL, WTL, OGDC, PIBTL and KEL.

Courtesy – AHL

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