· Battle between bulls and bears was conquered by the bulls in the last trading hour. Market opened with a positive momentum as investors perceived that last leg of foreign selling spree was completed on the last trading day. Forecast of investors failed as foreign selling continued and led the market back to red territory. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks. On the flip-side, In the second session institutional buyers started fetching value stocks due to attractive multiples which led the market to close in green zone.
· The Index closed at 44,114 pts as against 43,936 pts showing an increase of 178.4pts (0.4% DoD). Sectors contributing to the performance include Commercial Banks (+74pts), Power (+53pts), Fertilizer (+48pts), Cement (+34pts) and Pharmaceuticals (+15pts).
· Volumes increased from 195.2mn shares to 289.8mn shares (+48.5% DoD). Traded value also increased by 22.4% to reach US$ 58.5mn as against US$ 47.8mn.
· Stocks that contributed significantly to the volumes include WTL, TPLP, BYCO, HUMNL and MODAMR.
Courtesy – AHL