Market remained range bound with an oscillation of +119pts and -167pts and closing the session -56pts (unadjusted). Cement sector stocks bounced on the news of further investment in Cement sector in Punjab, however, close of session saw selling pressure that brought the prices down. Banking sector performed relatively better with growing interest in NBP, MCB and UBL, whereas trading volumes also improved in the previous sessions despite consistent selling from foreign investors. International crude prices stay muted which became the reason for consolidation in E&P sector stocks. Tech stocks continued the trailblazing performance, with NETSOL trading near upper circuit and strong interest in TRG despite the price coming down. Among scrips, MLCF topped the volumes with 31.6M shares, followed by FFL (23.1M) and TRG (22.5M).
· The Index closed at 42,102pts as against 42,115pts showing a decline of 14pts. Sectors contributing to the performance include Cement (+48pts), Banks (+35pts), Engineering (+16pts), E&P (-37pts) and Technology (-27pts).
· Volumes increased from 380.5mn shares to 409.6mn shares (+8% DoD). Average traded value also increased by 3% to reach US$ 115.4mn as against US$ 111.8mn.
· Stocks that contributed significantly to the volumes include MLCF, FFL, TRG, HASCOL and UNITY, which formed 29% of total volumes.
· Stocks that contributed positively to the index include MLCF (+19pts), UBL (+14pts), ENGRO (+13pts), ISL (+11pts) and MCB (+10pts). Stocks that contributed negatively include PPL (-19pts), FFC (-15pts), SYS (-14pts), PSO (-14pts) and SEARL (-13pts).