The market continued the ascent from yesterday’s level and added a total of 602pts during the session, closing the session +570pts (unadjusted). Banking sector performed well today, which brought the index to higher level. Expectation of high CPI, scheduled to be announced next week and monetary policy decision in September are the major reasons for brisk activity in Banking sector.

Announcement of POL’s financial results with high dividend payout resulted in POL reaching a new high. Overall, E&P stocks posted gains on the index. Refinery sector posted highest trading volumes with 65.9M shares, followed by Cement (62.2M) and O&GMCs (53.5M). Among scrips, PRL topped the volumes with 48.9M shares, followed by HASCOL (36.1M) and KAPCO (18.5M).

· The Index closed at 40,863pts as against 40,293pts showing an increase of 570pts (+1.4% DoD). Sectors contributing to the performance include Banks (+205pts), E&P (+86pts), Fertilizer (+55pts), Textile (+46pts) and Power (+38pts).

· Volumes declined from 535.1mn shares to 508.0mn shares (-5% DoD). Average traded value however increased by 6% to reach US$ 127.8mn as against US$ 120.8mn.

· Stocks that contributed significantly to the volumes include PRL, HASCOL, KAPCO, MLCF and TRG, which formed 27% of total volumes.

· Stocks that contributed positively to the index include HBL (+124pts), MCB (+61pts), UBL (+48pts), POL (+41pts) and ENGRO (+37pts). Stocks that contributed negatively include BAFL (-35pts), NESTLE (-11pts), ABL (-8pts), PMPK (-6pts) and PSEL (-5pts).(AHL)