The Index closed December 561pts or 1.7pc up. Volumes fell close to 20pc at 140mln shares but value traded was almost level with November during which the index fell 6pc or 2000pts. The index took comfort from a relatively slower foreign outflow this month. However low volumes were an indicator of market apprehension regarding the future quantum and direction of flows. An abatement would certainly help the market regain volumes and value. Foreign selling during the month came in at USD34mln compared to USD53mln in November.
During the month the US Federal Reserve initiated its rate hike, gas price hikes were delayed, impacting the Suis negatively and giving support to fertilizer companies which came of their lows. Cement offtake numbers continued to excite buyer interest.
Netsol, Mari and Feroz were the big winners among active stocks rising 45, 36 and 24 pc. Cements also did well, DGKC , MLCF, Cherat, Kohat and Pioneer rising 12-15pc.
The Suis lost 10pc in value while Hascol and Mughal Steel lost 9pc.
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