· Heavyweights OGDC PA (+6.28), HBL PA +5.74%), ENGRO PA (+2.42%), and MCB PA (+1.55%) lifted Pakistan higher to now approach the weekly draw on liquidity @ 49k without consolidation.

· MCB PA announced 1HCY23 earnings which beat expectations and HBL PA was informed by the Agha Khan Fund for Economic Development of its intention to acquire additional shares of HBL from the open market amounting to PKR 3.5bn which is around 34mnsh at CMP.

· UNITY PA which has gained more than +100% in the last few months announced its intention to invest upto PKR 1bn into corporate farming and a tech start-up through its subsidiary Sunridge Foods.

· Momentum remains very strong in blue chips but be weary of sharp pullbacks that can emerge in the near term, moves below 48k will be the first signal that a dip can come.

· Highest volume in the KSE-100 since June ’21 (365mnsh).

· Major support continues to build around 46-47k.

Courtesy – Arif Habib Ltd Sales