KSE-100 gains 105 points


Zubair Yaqoob


Market traded in a narrow range between -195pts and +181pts, closing the session +105pts (unadjusted). Higher than expected inflation caused concern amongst investors about the upcoming monetary policy, where a few days back market had consensus view of a rate cut.
Selling activity was therefore observed in Cement and Steel sectors largely, which have lately seen consistent rally before and after recent announcement of financial results. Consistent with recent trading pattern, Technology sector registered the most trading volume with 68.2M shares, followed by Cement (30.4M) and Chemical (19.5M).
Among scrips, WTL led the volumes with 45.8M shares, followed by PAEL (16.7M) and ICIBL (13.6M). The Index closed at 35,758pts as against 35,6553pts showing an increase of 105pts (+0.3% DoD).
Sectors contributing to the performance include (Fertilizer (+60pts), O&GMCs (+29pts), E&P (+23pts), Tobacco (+21pts), Autos (+20pts) and Cement (-43pts). Volumes declined further from 298.1mn shares to 265.8mn shares (-11% DoD). Average traded value also declined by 24% to reach US$ 51.5mn as against US$ 67.7mn.
Stocks that contributed significantly to the volumes include WTL, PAEL, ICIBL, HUMNL and MLCF, which formed 38% of total volumes. Stocks that contributed positively include PAKT (+29pts), ENGRO (+28pts), POL (+26pts), PSO (+23pts) and HUBC (+19pts). Stocks that contributed negatively include DGKC (-15pts), NESTLE (-11pts), FCCL (-11pts), DAWH (-10pts), and LUCK (-9pts).

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