Market opened on a positive note on Wednesday and within no time touched day’s high of +409pts, post SBP rate hike Tuesday’s of 100bps, in line with street consensus. E&P, O&GMCs, Cement, Chemical, Fertilizer and Banking Sector scrips performed well earlier today, however, save for O&GMCs and Chemical, all went bust by session’s end. LOTCHEM, SSGC, SNGP, EPCL traded near upper circuits. Cement sector led the volumes table with ~30M shares (contributed by MLCF (16.5M), DGKC (4.8M) and FCCL (3.5M)), followed by Chemical with 15M shares (contributed by LOTCHEM (8.2M)). The Index closed at 32,982pts as against 32,972pts showing an increase of 10pts (+0.03% DoD). Sectors contributing to performance include Banks (+30pts), Power (+17pts), Food (+15pts), Chemical (+14pts), Autos (-23pts), E&P (-20pts) and Textile (-10pts). Volumes declined from 138.7mn shares to 111.5mn shares (-20% DoD). Average traded value also declined by 18% to reach US$ 23.2mn as against US$ 28.3mn. Stocks that contributed significantly to the volumes include MLCF, TRG, LOTCHEM, DGKC and UNITY, which formed 40% of total volumes. Stocks that contributed positively include HUBC (+21pts), HBL (+19pts), DAWH (+16pts), NESTLE (+15pts) and EPCL (+8pts). Stocks that contributed negatively include OGDC (-14pts), INDU (-14pts), FFC (-14pts), PPL (-10pts) and NML (-9pts).