Karachi, January 17, 2020: PSX market remained volatile throughout the day, making an
Daily traded value stood at US$41 million, while volume stood at 211 million shares, down 4 percent. Major contribution to total market volume came from BOP (-1.6 percent), TRG (+1.2 percent) and WTL (-1.5 percent) with a cumulative 60mn shares traded.
This dull activity can be attributed to lack of triggers which drove the market sideways. Furthermore major movers of the market were PSO (+1.7 percent), MEBL (+1.8 percent), ENGRO (+0.5 percent), MCB (-0.9 percent), DAWH (-0.8 percent) and BOP (-1.6 percent).
E&P sector closed higher than their previous day close as crude oil prices inched higher in the international market. POL (+0.3 percent), PPL (-0.1 percent) and OGDC (+0.2 percent) all closed in the green zone.
Moving ahead as the result season is about to start next week, the market is likely to show sideways movement but overall bullish momentum remains intact.
