·        The market witnessed a long-awaited bull run after the government finally announced to increase petroleum prices considering the IMF Program resumption which resulted in the price appreciation of Pak Rupee against USD.  The investors rejoiced over the news as KSE-100 went up by 1,013 points during the session giving bulls an upper hand to remain active throughout the day.  However, profit selling was observed in the last trading hour due to the end of Rollover week.  Hefty volumes were observed all across the board on the contrary 3rd tier stocks remained in the limelight.

·        The Index closed at 42,861.45pts, up by 319.74pts (+0.75% DoD). Sectors contributing to the performance include Fertilizer (+44.1pts), E&P’s (+43.0pts), Banks (+40.5pts), Chemical (+37.6pts) and Cement (+35.4pts).

·        Volumes increased from 347.1mn shares to 527.7mn shares (+52.0% DoD). Average traded value also increased by 54.5% to reach US$ 70.0mn as against US$ 45.3mn.

·        Stocks that contributed significantly to the volumes are CNERGY, PRL, WTL, HUMNL, and GGL.

Courtesy – AHL