Finance

PSX trades in narrow range

Karachi, August 1, 2019: Pakistan Stock Exchange on Thursday traded in a narrow range with an oscillation between -158 points and +122 points, and ended the session at -99 points.

O&GMCs, Cement and Chemicals traded in red most of the session, whereas Steel continued moving upward, carrying the trend from yesterday.

Large cap Banks and Cement contributed mostly to the downside in Index. Cement Sector led the volumes table with 21.6 million shares, followed by Technology (7 million) and Engineering (5.5 million).

Among scrips, MLCF topped the chart with 10.6 million shares followed by TRG (5.3 million) and FCCL (4.8 million).

The Index closed at 31,839 points as against 31,938 points showing a decrease of 99 points (-0.3 percent DoD).

Sectors contributing to the performance include Banks (-38 points), E&P (-15 points), Power (-14 points), Food (-13 points), and Pharmaceuticals (-11points).

Volumes increase from 70.2 million shares to 70.7 million shares (+0.6 percent DoD). Average traded value decreased by 23 percent to reach US$ 12.6 million as against US$ 16.4 million.

Stocks that contributed significantly to the volumes include MLCF, TRG, FCCL, UNITY and PAEL, which formed 40 percent of total volumes.

Stocks that contributed positively include FCCL (+11 points), POL (+9 points), PKGS (+8 points), APL (+5 points) and FATIMA (+5 points).

Stocks that contributed negatively include PPL (-25 points), MCB (-18 points), BAHL (-15 points), FFC (-11 points) and NESTLE (-10 points).

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