Pakistan stock market continued the uptrend today

· Market continued the uptrend today, led by Power, Banks, E&P & O&GMCs other than technology stocks which saw erratic movement that dragged NETSOL and TRG down, causing the Index to go down. The index posted an overall gain of 610pts during the session and closed the session +442pts (unadjusted). News of partial release of funds by the Government to settle IPPs’ outstanding dues, which helped HUBC and KAPCO to perform. In the same vein, PSO also performed with the prospect of receipt of funds from the IPPs. Among scrips, UNITY topped the volumes with 42.3M shares, followed by TELE (32.7M) and TRG (30M).

· The Index closed at 44,944pts as against 44,5664pts showing an increase of 380pts (+0.9% DoD). Sectors contributing to the performance include Power (+116pts), Banks (+75pts), E&P (+64pts), Cement (+48pts), O&GMCs (+32pts) and Technology (-53pts).

· Volumes increased from 221.5mn shares to 259.9mn shares (+17% DoD). Average traded value also increased by 47% DoD to reach US$ 96.6mn as against US$ 65.8mn.

· Stocks that contributed significantly to the volumes include UNITY, TELE, TRG, GGL and NETSOL, which formed 54% of total volumes.

· Stocks that contributed positively to the index include HUBC (+98pts), PSO (+34pts), POL (+28pts), LUCK (+21pts) and PPL (+21pts). Stocks that contributed negatively include TRG (-54pts), SCBPL (-11pts), NRL (-8pts), HINOON (-4pts) and EFERT (-3pts).

Courtesy – AHL

Posted in Article & Features.

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