Zubair Yaqoob
Karachi
Market volumes finally breached that anemic 40M level and totaled 138.7M shares. Cement and E&P sector played a major role in setting the pace of market today, which oscillated between +135pts and -354pts. E&P scrips POL and PPL traded near lower circuits, whereas OGDC also saw significant selling pressure.
Similarly, O&GMCs saw key scrips under pressure, such as PSO and SNGP. MLCF and DGKC also traded near lower circuits, however, recovered later in the day’s trading. Cement sector led the volumes table with 27M shares, followed by Power (22M) and Technology (15M).
Scrip wise activity shows KEL as volume leader with 20M shares, followed by MLCF (14M) and TRG (13M). The Index closed at 32,972pts as against 32,958pts showing an increase of 14pts (0.04% DoD). Sectors contributing to the performance include banks (46pts), Cement (26pts), Fertilizer (18pts), Power Generation (4pts), and Transport (3pts). Volumes increased by from 138.7mn shares to 69.1mn shares (+100% DoD).
Average traded value increased by merely 92% to reach US$ 28.3mn as against US$ 14.8mn. Stocks that contributed significantly to the volumes include KEL, MLCF, TRG, BOP and LOTCHEM, which formed 43% of total volumes. Stocks that contributed positively include UBL (+24pts), LUCK (+24pts), HBL (+23pts), ENGRO (+17pts) and MCB (+15pts). Stocks that contributed negatively include POL (-29pts), PPL (-21pts), BAHL(-11pts), NML (-10pts) and ABOT (-9pts).
