Finance

PSX index closed on a positive note

Karachi, February 11, 2020: Pakistan equities closed Tuesday on a positive note with the benchmark KSE100 Index gaining 417 points, closing at 39,714 levels, up 1.1 percent.

Market remained lackluster in today’s trading session with value buying witnessed ahead of the result season. HUBC (+4.3 percent), LUCK (+2.4 percent), OGDC (+1.5 percent), PSO (+3.3 percent), POL (+2.4 percent) and ENGRO (+0.8 percent) cumulatively contributed +217 points towards the positive index close.

Traded value stood very low at $39 million, down 9 percent and volume stood at 161 million shares, down 11 percent. Furthermore, major contribution to total market volume came from HASCOL (+4.7 percent), UNITY (+3.8 percent), TRG (+2.8 percent), MLCF (+5.6 percent), PAEL (-0.5 percent) and WTL (0 percent).

However, we expect the market to remain sideways in the short term on the back of uncertainty on the political front; moreover ongoing IMF review and FATF review session this month.

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