Daily Times

The bourse on Wednesday concluded the second consecutive day on a positive note as benchmark KSE-100 index closed +472 points at 41,718 levels.

The Benchmark KSE-100 recorded bullish trading activity on the back of attractive valuation. The volume and value were relatively high with 104.006 million and 6,797.105 million respectively.

Market kicked off positive hitting a day’s high of 41,817. Major heavyweights namely, Pakistan Petroleum Limited (PPL) gaining 3.15 percent, Oil Gas Development Company OGDC gaining 0.57 percent, Engro gaining 1.41 percent, United Bank Limited (UBL) gaining 0.39 percent, Pakistan Oil Fields (POL) gaining 2.28 percent, Fauji Fertiliser Company (FFC) gaining 3.04 percent, Hubco gaining 0.55 percent and Lucky Cement gaining 2.41 percent cumulatively contributed +222 points.

Traded volumes increased by 31 percent day-on-day (DoD) to 235 million shares, while value traded increased to $ 72 million. Top volume stocks were Power Cement, Bank of Punjab (BOP) and Lotte Chemical. Market rallied 1.8 percent since last two trading sessions as the quantum of flow spiked due to decent buy side interest by foreign investors in the past 2 days.

Mixed sentiment seen in Financials where HBL (-0.43%), MCB (-0.21%) and BAHL (-0.58%) closed in the red, while on the flipside UBL (+0.39%), BAFL (+2.10%) and NBP (+0.34%) closed in the green.

In cements, Lucky Cement gaining 2.41 percent, DG Khan Cement gaining 3.19 percent and Fauji Cement Company Limited (FCCL) gaining 1.33 percent closed in the positive zone.

An equity analyst Danish Ladhani expects market to remain green with flows from local and foreign institutions directing the market following the General Elections 2018.

The advance to decline ratio in the broader market remained in the favor of Bulls. Today the total 376 scrips participated, 124 of them were declined, 230 advanced while 22 scrips remained unchanged.

Published in Daily Times, June 28^th 2018.