Market maintained the cautious approach as have been witnessed in the previous sessions, however, in the process discounted the potential negative impact of resignation of Opposition parties from National and Provincial Assemblies as well as the threat of Indian false flag operation. Investors focused gaze on fundamentally sound scrips, essentially the main board scrips, such as HBL and NBP, which not only highlights dividend prospects but have so far shown healthy profits in the bottom line. Cement sector remained range bound, as did O&GMCs and Fertilizer sectors. Investors, in general, have been waiting for a clear positive trigger and have weathered the threats from Political as well as Law and order situation. PIBTL topped the volumes with 50M shares, followed by UNITY (35.6M) and KEL (34.1M).
· The Index closed at 42,306pts as against 42,204pts showing an increase of 102pts (+0.2% DoD). Sectors contributing to the performance include Banks (+47pts), Technology (+21pts), Cement (+15pts), Transport (+13pts), Fertilizer (+12pts) and E&P (-20pts).
· Volumes increased from 438.1mn shares to 472.1mn shares (+8% DoD). Average traded value also increased by 2% to reach US$ 120.1mn as against US$ 118.3mn.
· Stocks that contributed significantly to the volumes include PIBTL, UNITY, KEL, PRL and TRG, which formed 40% of total volumes.
· Stocks that contributed positively to the index include FFC (+32pts), TRG (+21pts), HBL (+17pts), BAHL (+15pts) and PIBTL (+13pts). Stocks that contributed negatively include ENGRO (-20pts), MARI (-10pts), POL (-7pts), KTML (-5pts) and UBL (-5pts).