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A Research house expects a bounce back in HUBC from around these levels

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  • Post category:IPPs issue / PSX
  • Reading time:1 mins read
  • 85k crossed on the back of a strong performance from banks and EnP names
  • 63 shares rose while 32 fell, with BAHL PA (+6.56%), HBL PA (+6.7%) and EFERT PA (+3.8%) the biggest contributors to index gains
  • HUBC PA (-8.04%), MARI PA (-1.84%) and LUCK PA (-2.26%) were the largest index drags
  • HUBC PA traded 45.8mnsh (USD 19mn). The biggest volume is almost 20-yrs in what appears to be shaping as a selling climax at the 2023 highs (PKR 112-113), downside appears to be limited, and a bounce back could be seen from around these levels
  • Support remains @ 84k against which higher levels should be expected near-term

Courtesy -AHL Sales

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