Increased Foreign outflow (due to reclassification of Pakistan from MSCI EM to MSCI Frontier market) in recent sessions has put an added pressure on the Index and today was no different. Outflows from E&P, Banks and Fertilizer sector kept the local investors poised for further downside in these sectors and reflection of that was witnessed in PPL, POL, HBL, SYS, EFERT. Uptick in NETSOL, TRG and AVN just prior to commencement of trading in Octopus digital, helped the index turn green, which was otherwise down by 310pts during the session. The lost points saw recovery by the close of session and added a net gain of 153pts (unadjusted). Among scrips, TELE topped the volumes with 25.6M shares, followed by WTL (21.6M) and SMBL (14.7M).

·          The Index closed at 45,045pts as against 44,872pts showing an increase of +173pts (+0.4% DoD). Sectors contributing to the performance include Technology (+70pts), Pharma (+48pts), Food (+21pts), Chemical (+18pts) and Inv Banks (+13pts).

·          Volumes remained the same at 267.2mn shares (+0.1% DoD). Average traded value also increased by 12% to reach US$ 59.1mn as against US$ 52.8mn.

·          Stocks that contributed significantly to the volumes include TELE, WTL, SMBL, BYCO and GGL, which formed 33% of total volumes.

·          Stocks that contributed positively to the index include TRG (+49pts), SEARL (+39pts), COLG (+17pts), AVN (+17pts) and ENGRO (+16pts). Stocks that contributed negatively include PPL (-23pts), LUCK (-21pts), POL (-12pts), FFC (-11pts) and CHCC (-8pts).

Courtesy – AHL