Zubair Yaqoob
Karachi
Market traded range bound for the most part of the session but saw gaining volumes and points by the end that reflects an increase of 248pts. Cement, Fertilizer and Pharma stocks showed signs of recovery. Some of the scrips in Pharma sector hit upper circuit like AGP and FEROZ. Banking sector stocks showed selling pressure amid low trading volumes. Cement sector led the volumes with 16.1M shares, followed by Technology (10.8M) and Inv Banks (7.5M). Among scrips, MLCF topped the chart with 6.6M shares, followed by JSCL (5.2M) and TRG (4.3M). The Index closed at 34,350pts as against 34,120pts showing an increase of +231pts (+0.7% DoD). Sectors contributing to the performance include Cement (+54pts), E&P (+50pts), Fertilizer (+46pts), Pharma (+45pts), Textile (+12pts) and Banks (-13pts). Volumes declined from 143.6mn shares to 89.1mn shares (-38% DoD). Average traded value also declined by 29% to reach US$ 24.3mn as against US$ 33.9mn. Stocks that contributed significantly to the volumes include MLCF, JSCL, TRG, UNITY and MACFL, which formed 27% of total volumes. Stocks that contributed positively to the index include ENGRO (+41pts), POL (+21pts), LUCK (+15pts), SEARL (+13pts) and MARI (+13pts). Stocks that contributed negatively include MCB (-12pts), BAFL (-5pts), PSO (-3pts), SNGP (-3pts), and KAPCO (-2pts)
