Finance

PSX Index closed at a decline of 137 pts

Karachi, February 01, 2021: Market re-tested a high towards 47k level today and again met profit booking around 46,700 level, bringing down the Index by 173 points (unadjusted).

During the session, the index oscillated +377 points and -197 points. Refinery, Fertilizer and Chemical sectors remained in the limelight, with buying activity, whereas Banks, E&P, O&GMCs and Cement sector stocks saw profit booking.

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 Cement sector contributed to the initial surge in Index; however, selling pressure brought the stock prices below respective LDCPs.Among scrips, PRL topped the volumes with 81.5 million shares, followed by KEL (65.1 million) and PIBTL (62 million).  

·  The Index closed at 46,248 points as against 46,385 points showing a decline of 137 points (-0.3 percent DoD). Sectors contributing to the performance include Cement (-85 points), Banks (-74 points), Technology (-51 points), Engineering (-24 points), O&GMCs (-18 points), Fertilizer (+36 points) and Autos (+27 points).

·  Volumes declined from 840.2 milllion shares to 693.6 milllion shares (-18 percent DoD). Average traded value also declined by 6 percent to reach US$ 190.6 milllion as against US$ 203.4 milllion.

·  Stocks that contributed significantly to the volumes include PRL, KEL, PIBTL, HASCOL and TRG, which formed 40 percent of total volumes.

·  Stocks that contributed positively to the index include ENGRO (+38 points), MTL (+18 points), SEARL (+17 points), ATRL (+14 points) and MARI (+14 points). Stocks that contributed negatively include TRG (-58 points), LUCK (-46 points), UBL (-19 points), HBL (-16 points) and ANL (-15 points).

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