Zubair Yaqoob
Karachi
Market opened on a positive note on Friday with +334pts and 3.34M volume traded. Oil chain reacted to the jump in international oil prices which went up on the news of US attack on Iranian military commander. POL reacted the most to hike in oil prices. Similarly, among OMCs, PSO made a rapid ascent. Majority of the stocks remained red by the end of session due to profit booking and concerns over regional security. Among Banks, HBL and UBL remained under pressure. Technology sector led the volumes table with 43M shares, followed by Banks (34.5M) and Cement (33.2M). Among scrips, TRG topped the chart with 23.7M shares, followed by UNITY (20.8M) and KEL (20.2M). The Index closed at 42,323pts as against 42,481pts showing a decline of 158pts (-0.4% DoD). Sectors contributing to the performance include E&P (+63pts), Fertilizer (-87pts), Banks (-77pts), Pharma (-18pts), Autos (-12pts). Volumes declined over the day from 412.3mn shares to 322.9mn shares (-22% DoD).
