· Market inched up further at the brink of earnings season, with an increase of 241pts during the session and closing +103pts (unadjusted). Financial results of key companies are due in the coming week, which kept the interest alive although trading volumes remained thin. Cyclicals including Cement, Steel and Autos performed relatively better. Small caps were favored by investors in comparison with blue chips, whereby GGL which fell yesterday bounced back today.
On the other hand, TELE continued moving upwards despite the meteoric rise this stock has seen in the recent past. Overall trading volumes stood at 173M shares, which dropped by 50% DoD with concentration towards technology stocks. Among scrips, TELE topped the volumes with 21.4M shares, followed by GGL (21.4M) and TRG (16.2M).
· The Index closed at 45,306pts as against 45,230pts showing an increase of 75pts (+0.2% DoD). Sectors contributing to the performance include Banks (+27pts), Technology (+19pts), Fertilizer (+18pts), Autos (+13pts) and Auto Parts (+10pts).
· Volumes declined from 347.6mn shares to 173.5mn shares (-50% DoD). Average traded value also declined by 31% to reach US$ 57.2mn as against US$ 82.5mn.
· Stocks that contributed significantly to the volumes include GGL, TELE, TRG, WTL and GGGL, which formed 47% of total volumes.
· Stocks that contributed positively to the index include ENGRO (+16pts), TRG (+15pts), HBL (+9pts), HUBC (+7pts) and PSMC (+7pts). Stocks that contributed negatively include PAKT (-11pts), DGKC (-7pts), FCCL (-5pts), PPL (-5pts) and FFBL (-4pts).
Courtesy – AHL