Zubair Yaqoob
Karachi
In the aftermath of US-Iran confrontation and developing geo-political situation, world markets staged a recovery with an understandable decline in international crude prices. KSE100 index also partially recovered the points lost yesterday with an increase of 649pts by the end of session. Banks, OMCs, Refineries and Cement sectors remained in the limelight, with LUCK, PSO, ATRL and NRL hitting upper circuits by the end of session. Overall, OMCs saw largest volumes of 31.1M shares, followed by Technology (21.9M) and Cement (20.9M). Among scrips, HASCOL led the table with 19M shares, followed by KEL (16M) and STPL (12.3M). The Index closed at 41,904pts as against 41,296pts showing an increase of 608pts (+1.5% DoD). Sectors contributing to the performance include Banks (+205pts), Fertilizer (+83pts), Cement (+68pts), O&GMCs (+66pts) and Inv Banks (+61pts). Volumes declined from 266.7mn shares to 206.9mn shares (-23% DoD).
Average traded value also declined by 14% to reach US$ 59.2mn as against US$ 67.5mn.
