In search of volumes

Absence of investor interest continues on the first day of trading after Eid. Positive or negative triggers could generate volumes. Total volumes today were 110mln shares. The day closed 132 points in the red because of a late surge of selling during the day. For the most part the index stayed positive during the day. Among the top traded stocks BYCO, FFC , PAEL and TRG slipped 3.81, 2.52, 2.42 and 4pc respectively. JSCL fell 5pc. On the plus side were HINO, GHNL, GHNI which ended the day on upper caps.

Pakistan completed its Eurobond issue successfully and should get a fund release from the IMF shortly. Foreign participation was limited at $0.1mln buying.