PSX index closed today with positive 52pts

Karachi, September 17, 2020: The benchmark index opened positive and touched a high of +350 points. The market remained in the green throughout the day and closed at 42,335 (+52 points) level.

Overall volumes stood at 509 million shares, while value traded stood at US$91 million. PTC (8.8 percent), UNITY (3.2 percent), FFL (2.3 percent) and HASCOL (-1.4 percent) cumulatively contributed almost 193 million shares to the total volume. MUGHAL (5.3 percent) from the steel sector declared its FY20 result, where the company posted an EPS of Rs2.36 with no cash payout.

Furthermore DGKC (0.9 percent) from the cement sector declared its FY20 result, where the company posted a loss of Rs4.93 per share with no cash dividend. Major movers of the day were EPCL (6.5 percent), ENGRO (0.5 percent), POL (1.1 percent), PSO (1.3 percent), PTC (8.8 percent) and OGDC (0.1 percent) which drove the index in the positive zone.

Going forward, we expect the market to continue a similar trend and recommend investors to see any upside as an opportunity to sell. However, we recommend viewing any downside in the market as an opportunity to buy in the Cement, Steel, Consumer and Refinery sectors.

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