The year started off on a positive note at the PSX

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· The year started off on a positive note at the PSX. The market opened in the red but the bulls quickly took charge making an intraday high of 607.06 points. The investors remained affirmative during the trading session due to positive news on the 9th review of the IMF tranche and the E&P sector remained in the limelight on the news of circular debt resolution. Volumes remained healthy across the board with refineries and E&Ps remaining in the limelight.

· The index closed at 40,815.90 pts, up by 395.45 pts (+0.98% DoD). Sectors contributing to the performance include Commercial Banks (+149.0pts), Fertilizer (+147.2pts), E&P’s (+108.3pts), OMCs (+33.8pts), and Refinery (+21.8pts).

· Volumes decreased from 284.5mn shares to 242.2mn shares (-14.9% DoD). The average traded value also decreased by 8.6% to USD 32.1mn as against USD 35.1mn.

· Stocks that contributed significantly to the volumes are PPL, PRL HASCOL CNERGY AND WTL.

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