KSE-100 index closed in the green zone

· KSE-100 index closed in the green zone as the market celebrated SBP injection of liquidity via OMO for 63 days @ 9.9%, a signal of stability. Market stayed volatile in the first hour of opening due to declining foreign exchange reserves and FTSE rebalancing, expectation of foreign selling spree. Soon after OMO injection news clocked in, bullish trend was observed mainly in the cement and steel sector. Main board activity remained gloomy. On the flip-side, activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. Moving forward, economic numbers like CPI, CAD, FX reserves along with timing of IMF program resumption will play a vital role in shaping the direction of market.

· The Index closed at 43,901pts as against 43,731pts showing an increase of 169pts (+0.39% DoD). Sectors contributing to the performance include Cements (+70pts), Commercial Banks (+60pts), E&P (+35pts) and Technology & Communication (+28pts).

· Volumes decreased from 312.1mn shares to 252.2mn shares (-19.2% DoD). Traded value also decreased by 20.4% to reach US$ 45.2mn as against US$ 56.9mn.

· Stocks that contributed significantly to the volumes include WTL, HUMNL, TELE, TRG and BYCO.

Courtesy – AHL

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