PSX continues positive momentum


Zubair Yaqoob


The market traded in a range on Tuesday between -282pts and +288pts and closed the session +50pts. Amidst expectations of an impending correction, Index is circumnavigating current levels with a tilt towards index heavy weights such as HUBC and helped manage the slide, which would otherwise have dented investor sentiment.
The index opened on a positive note with +98pts and went further upto +183pts, on the back of buying activity in Cement, E&P sectors, however, selling pressure in Banks, Cement, Fertilizer and Steel brought the index down later. The Index rebounded again with buying interest in HUBC that took the stock price to upper circuit. Besides, increase in international crude oil prices helped PSO, PPL and POL to post price gains.
Among Fertilizer sector stocks, ENGRO performed well and posted decent gains. Technology sector topped the volumes with 71.7M shares, followed by Cement (58.2M) and Power (43.3M). Among scrips, TRG did 28.6M shares, followed by HASCOL (25.9M) and HUMNL (17.5M).

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