Zubair Yaqoob
Karachi
Market made a repeat of Wednesday, opening 204pts up, increasing by 304pts in total during the session and closing +74pts (unadjusted). Fertilizer sector played an important role in posting gains on the index, primarily due to announcement of package for the farmers towards purchase of DAP and Tractors.
Resultantly, FFBL hit upper circuit whereas other Fertilizer sector scrips also went up before facing selling pressure. Cement, Steel, Banks and E&P sector largely traded range bound. Upward movement in international crude prices even couldn’t excite investors.
Technology sector topped the index with 40.7M shares, followed by Cement (29.1M) and Chemical (21.3M). Among scrips, TRG realized 20.9M shares, followed by UNITY (18.6M) and AGL (14.8M).
The Index closed at 33,805pts against 33,693pts showing an increase of 112pts (+0.3% DoD). Sectors contributing to the performance include Fertilizer (+80pts), Inv Banks (+31pts), Food (+27pts), Technology (+24pts), E&P (+23pts), Banks (-59pts), Power (-32pts) and Cement (-28pts). Volumes increased from 219.2mn shares to 240.2mn shares (+10% DoD).
