Pakistan Stock Exchange closed at 43,266pts

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An unimpressive power show by the Opposition parties contributed more to the buoyant investor sentiment than the fundamental drivers that have come to fruition since in the past 30 days. Pakistan has been scoring high on external front every now and then, especially on account of RDA (Roshan Digital Account) that has reportedly seen healthy influx of ~US$ 150M and growing success of Naya Pakistan Certificates that offer competitive yields on different tenors to Pakistani expatriates. International crude oil prices contributed positively to the E&P sector stocks, as did the Fertilizer sector to the KSE100 Index. Cement sector also contributed positively to the potential of opening up of South African market. Overall, the index added a total of 846pts during the session and closed at session’s high (unadjusted). Among scrips, PRL topped the volumes with 57.4M shares, followed by HASCOL (46.8M) and ANL (30.9M).

· The Index closed at 43,266pts as against 42,470pts showing an increase of 796pts (+1.9% DoD). Sectors contributing to the performance include Fertilizer (+135pts), Banks (+112pts), E&P (+104pts), Cement (+102pts) and O&GMCs (+59pts).

· Volumes increased from 5576mn shares to 629.5mn shares (+13% DoD). Average traded value also increased by 11% to reach US$ 164.7mn as against US$ 149mn.

· Stocks that contributed significantly to the volumes include PRL, HASCOL, ANL, PIBTL and MLCF, which formed 30% of total volumes.

· Stocks that contributed positively to the index include FFC (+63pts), LUCK (+55pts), OGDC (+50pts), PPL (+39pts) and ENGRO (+37pts). Stocks that contributed negatively include GHGL (-3pts), AGP (-2pts), SYS (-2pts), SPWL (-1pts) and FML (-1pts).

(AHL)

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