Zubair Yaqoob
Karachi
Market dipped again by 351pts during the session, but staged a recovery and closed the session +5pts. LUCK’s result at the opening bell, brought some relief to the sellers in past couple of sessions in which LUCK came down from ~500. LUCK’s price rebounded after touching day’s low of 468.80 and closed 484.50.
Cement sector largely traded positive, same as Fertilizer sector stocks. Oil chain and Banking sector again faced selling pressure almost across the board. Technology sector led the volumes with 32.2M shares, followed by Banks (26.9M) and Cement (20.5M).
Among scrips, BOP realized 17.9M shares, followed by AVN (15.9M) and UNITY (10M). The Index closed at 41,903pts as against 41,899pst showing an increase of 5pts (+0% DoD). Sectors contributing to the performance include E&P (-52pts), Banks (-44pts), Power (-26pts), Chemical (-18pts), Inv Banks (+54pts), Cement (+37pts) and Fertilizer (+22pts).
Volumes declined from 197.2mn shares to 162.2mn shares (-18% DoD). Average traded value also declined by 8% to reach US$ 44.3mn as against US$ 47.9mn. Stocks that contributed significantly to the volumes include BOP, AVN, UNITY, HASCOL and WTL, which formed 37% of total volumes.
