PSX sees bullish momentum due to clarity over political unrest and appreciation of Pak rupee

April 11, 2022 admin 0 Comments PSX

Bullish momentum was recorded today due to clarity over political unrest and appreciation of Pak rupee against dollar. Market celebrated the prolong awaited clarity as KSE-100 index posted historic single day gain in term of index points. Across the board rally was witnessed regardless of foreign selling spree. Main board activity remained healthy. Moreover, market even witnessed hefty volumes in the 3rd tier stocks.

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The Index closed at 46,144.96, up by 1,700.4pts (+3.83% DoD). Sectors contributing to the performance include Banks (+385.4pts), Cement (+228.5pts), Technology (+199.3 pts), Fertilizer (+129.8pts) and E&P’s (+117.1 pts)

Volumes increased from 227.9mn shares to 557.7mn shares (+144.7% DoD). Average traded value also increased by 195.2% to reach US$ 73.0mn as against US$ 24.7mn.

Stocks that contributed significantly to the volumes include WTL, CNERGY, FCCL, HUMNL and PIBTL.