The week started on a negative note at the PSX due to the ongoing political uncertainty

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·        The week started on a negative note at the PSX due to the ongoing political uncertainty, which kept investors squaring up their position in the market, with the index shedding 486.53 points during the intraday. Decent volumes were observed on the mainboard although third-tier stocks remained in the spotlight.

·        The index closed at 40,970.82 pts, down by 330.66 pts (-0.80% DoD). Sectors contributing to the performance include Power Generation & Distribution (-53.5pts), Fertilizer (-51.5pts), Technology & Communication (-51.5pts), E&P’s (-47.1pts), Automobile Assembler (-33.7pts).

·        Volumes increased from 139.7mn shares to 142.6mn shares (+2.1% DoD). The average traded value decreased by 8.3% to USD 17.0mn as against USD 18.5mn.

·        Stocks that contributed significantly to the volumes are, BAFL, WTL, HASCOL, KEL, DFML, UNITY & PPL.

Courtesy – AHL

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