·        Bullish momentum was witnessed today due to uplifted optimism towards IMF announcement. The International Monetary Fund’s Executive Board will take the sixth review of the $6 billion Extended Fund Facility (EFF) for Pakistan on the agenda in its meeting scheduled for Wednesday (Feb 2). Market opened on a positive note and stayed in the green zone throughout the day. In banking sector, BAFL announced 4QCY21 result in line with market expectations. Activity continued to remain side-ways as market witnessed hefty volumes in the 3rd tier stocks.

·        The Index closed at 46,119.15pts as against 45,674.50pts showing an increase of 444.65pts (+0.97% DoD). Sectors contributing to the performance include Banks (+105.6pts), E&P (+80.7pts), Cement (+63.0pts), Textile Composite (35.1pts) and OMC’S (+25.3pts).

·        Volumes increased from 312.5mn shares to 360.8mn shares (+15.5% DoD). Traded value also increased by 15.3% to reach US$ 62.0mn as against US$ 53.8mn.

·        Stocks that contributed significantly to the volumes include HUMNL, TELE, TREET, WTL and GGL.

Courtesy- AHL