· The week began with a negative session at the PSX today. Following the news of the Chinese loan rollover, the benchmark KSE-100 index opened in the green. Later in the day, however, the bears made a comeback and pulled the index down, shedding a net 650.84 points at the close due to rumors in the market about the stalled IMF program. Investor involvement was sluggish, with third-tier equities dominating.
· The index closed at 40,621.21 down by 680.08pts (-1.65% DoD). Sectors contributing to the performance include E&P’s (-140.4pts), Technology & Communication (-100.7pts), Commercial Banks (-98.2pts), Fertilizer (-84.6pts) and Power Generation & Distribution (-64.6pts).
· Volumes increased from 156.0mn shares to 179.8mn shares (+15.2% DoD). The average traded value also increased by 48.9% to USD 19.4mn as against USD 13.0mn.
· Stocks that contributed significantly to the volumes were WTL, KEL, CNERGY, TPLP, and PIBTL.
Courtesy- AHL