Market remained range bound today, starting at a positive note with +25pts but could only maintain the positive sentiment by ~100pts. Sellers took charge soon but couldn’t put significant pressure. Market moved between -100pts to +120pts during the day. High volumes in index heavy weights such as LUCK, OGDC, DGKC kept the interest alive, where foreigners were apparent sellers and institutions were showed buying interest. Cement sector scrips traded in high volume but narrow band, and ended in red. Similarly, refineries lagged also shed weight at the bourse.
The Index closed at 42,732pts as against 42,760pts showing a decline of merely 28pts (-0.1% DoD). Sectors contributing to today’s performance include Banks(+76pts), E&P (+31pts), Fertilizer (+11pts), Cement (-51pts) and Engineering (-12pts).
Volumes slumped below 200M shares to 191.2mn as against 239.5mn shares yesterday (-20% DoD). Average traded value also declined by 9% DoD to reach US$ 73mn as against US$ 80mn.
Stocks that contributed significantly to the volumes include PIBTL, OGDC, LOTCHEM, STPL and PAEL reflecting 25% of total volumes.
Scripts that contributed positively include BAHL (+60pts), BAFL (+26pts), ENGRO (+21pts), MCB (+18pts) and PPL (+9pts). Stocks that contributed negatively include LUCK (-24pts), UBL (-11pts), NBP (-11pts), DGKC (-9pts) and DAWH (-7pts).