Finance

PSX market closed at an increase of 71pts

Karachi, April 13, 2021: PSX market traded in a narrow range between -198 points and +155 points, closing the session +104 points (unadjusted). Mainboard scrips have largely been in consolidation and today was no different.

Banking sector stocks inched up with a particular interest in UBL, especially by the end of the session. Technology stocks witnessed a see-saw moment when NETSOL rebounded and hit the upper circuit, whereas TRG (which went upper circuit yesterday) bore selling pressure and traded below LDCP.

Among small caps, GGL, GGGL, HU MILLIONL and TELE remained in the limelight. Among scrips, FNEL topped the volumes with 106.5 million shares, followed by UNITY (29.8 million) and BYCO (28.5 million).

The Index closed at 45,048 points as against 44,978 points showing an increase of 71 points (+0.2 percent DoD). Sectors contributing to the performance include BANKS (+89 points), O&GMCs (+15 points), Technology (-59 points), and Power (-19 points).

Volumes declined from 503.5 million shares to 473.4 million shares (-6 percent DoD). Average traded value also declined by 8 percent to reach US$ 120.8 million as against US$ 130.7 million.

Stocks that contributed significantly to the volumes include FNEL, UNITY, BYCO, TRG and WTL, which formed 47 percent of total volumes. Stocks that contributed positively to the index include UBL (+28 points), HBL (+18 points), BAHL (+17 points), SNGP (+13 points) and FFBL (+12 points). Stocks that contributed negatively include TRG (-67 points), ENGRO (-28 points), HUBC (-19 points), MLCF (-4 points) and KOHC (-4 points).

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