The market opened on a positive note today with +158pts and posted a total gain of 480pts, ending the session +419pts (unadjusted). The banking sector remained in the limelight, which was further helped by Cement, Refinery, Textile and Chemicals. Profit selling was observed mainly in E&P and Fertilizer sectors. However, this did not affect market sentiment. 2 sessions are left before Eid over the weekend. However, investors look optimistic considering the ongoing results season, especially due to Banks. UBL is scheduled to post results on August 5th. Banking sector led the volumes with 60.8M shares, followed by Cement (59.6M) and Technology (35.6M). Among scrips, PAEL topped the volumes with 26.2M, followed by MLCF (26.1M) and BOP (23.4M).

·        The Index closed at 38,627pts as against 38,221pts showing an increase of 406pts (+1.1% DoD). Sectors contributing to the performance include Banks (+173pts), Cement (+73pts), Technology (+29pts), Textile (+21pts) and Autos (+20pts).

·        Volumes increased from 288.1mn shares to 394.3mn shares (+37% DoD). Average traded value also increased by 22% to reach US$ 97.3mn as against US$ 79.7mn.

·        Stocks that contributed significantly to the volumes include PAEL, MLCF, BOP, FFL and PRL, which formed 30% of total volumes.

·        Stocks that contributed positively to the index include LUCK (+44pts), MEBL (+42pts), BAHL (+31pts), TRG (+31pts) and MCB (+30pts). Stocks that contributed negatively include DAWH (-7pts), JLICL (-7pts), NESTLE (-6pts), ARPL (-4pts), and FFC (-3pts) (AHL).