The Pakistan Inventory Change (PSX) on Monday landed within the purple after experiencing a risky session, with the benchmark KSE-one hundred index plunging 33 factors to shut at forty one,031.
The market touched a day’s low of forty,928 factors in the course of the first hour of the session; it hit a day’s excessive of forty one,232 factors in intraday buying and selling.
“The market witnessed yet one more day of lackluster exercise, compounded as a result of technical issues,” learn a JS International report.
Volumes remained subdued, standing at 75mn shares, it stated, including that a number of the main gainers for the day have been SSGC (+three.00pc), DAWH (+2.92pc) and OGDC (+2.31pc), which cumulatively contributed seventy eight factors to the benchmark index.
On the flip aspect, main laggards for the day have been HBL (-1.74pc), PSO (-1.46pc) and UBL (-zero.72pc); cumulatively taking seventy two factors from the index.
In line with the report, constructive sentiments buoyed the textile sector, as NML (+1.08pc) and NCL (+zero.72pc) closed within the inexperienced on the again of the information that authorities has launched Rs14bn for the implementation of Part-I of the Prime Minister’s Export Incentives Package deal.
ATRL (-2.53pc), NRL (-2.04pc), PRL (-1.26pc) from the refinery sector, together with PSO (-1.46pc), closed damaging after information this morning that the federal government has taken an abrupt choice to not run much less-environment friendly energy crops that run on furnace oil. The choice was taken as a result of prevailing smog in Punjab, the JS International report learn.
The E&P sector, nevertheless, closed larger than its earlier day as crude oil costs edged larger within the international financial system, marking a two-yr excessive. PPL (+1.40pc) and OGDC (+2.31pc) have been the most important gainers of the talked about sector.
Solely seventy five.four million shares, value Rs4.5 billion, have been traded on the broader market amidst the technical glitches. Of the 334 traded scrips, ninety eight gained in worth, 221 declined and 15 remained unchanged.
The communication sector dominated buying and selling with 12.7m shares traded; the facility era and distribution sector adopted with virtually 11m shares traded.
Volumes have been led by:
PTCL: 5.6m shares traded [-1.74pc];
Okay-Electrical Ltd: four.7m shares traded [-1.78pc];
Sui South Fuel: four.7m shares traded [+3.00pc];
TRG Pak Ltd: four.2m shares traded [-2.75pc];
Pak Elektron: four.1m shares traded [-0.51pc].
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