PSX shows third consecutive positive closing of KSE100

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This is the third consecutive positive closing of KSE100 since the beginning of the week, where the Index has added ~1400pts from last week’s closing level. Though the weekend left vestiges of political uncertainty, institutional investors kept brisk buying activity on the back of quarterly earnings. Banking sector results announced so far has helped Index sustain existing rates, where the investors took positions in Oil & gas, Cement and Power sector stocks with a positive view on FATF ruling scheduled to be announced by end of week, on Friday. Fertilizer sector outperformed today on the back of healthy earnings and hefty dividend declaration from EFERT, the result of which was seen on ENGRO as well. By the end of session, UBL saw buying activity that helped regain points lost due to profit booking in PSO. Among scrips, UNITY led the volumes with 64.4M shares, followed by PIBTL (63.9M) and HASCOL (47.2M).

· The Index closed at 41,536pts as against 40,956pts showing an increase of 579pts (+1.4% DoD). Sectors contributing to the performance include Banks (+185pts), Fertilizer (+116pts), Technology (+53pts), Power (+32pts) and E&P (+22pts).

· Volumes increased from 492.6mn shares to 661.3mn shares (+34% DoD). Average traded value also increased by 33% to reach US$ 134.9mn as against US$ 101.1mn.

· Stocks that contributed significantly to the volumes include UNITY, PIBTL, HASCOL, PRL and ASL, which formed 38% of total volumes.

· Stocks that contributed positively to the index include BAHL (+77pts), ENGRO (+46pts), EFERT (+43pts), HUBC (+34pts) and SYS (+26pts). Stocks that contributed negatively include ABOT (-9pts), POL (-7pts), PSO (-7pts), KEL (-4pts) and LOTCHEM (-3pts).

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