The KSE100 rallied 462 pts, 1.4pc today to close at 32749. Turnover was lower by 15pc but value traded was higher by 10pc. CPI clocked in at 1.32pc for September which was lower than expected and this lent support to the market. Sentiment was positive as broker inquiries by NAB seems to be moving out of investor focus. Regional markets stability was also a plus point.
Gainers for the day were EPCL, BIPL and PAEL up 9pc, 7pc and 5pc respectively. Losers were SEARL, OTSU and GHNI by 5pc each.
Top Stocks by Volume
Active interest was witnessed in cement stocks with MLCF, FCCL, DGKC AND PAKCEM up 3.6pc, 2pc, 2.7pc and 2.2pc. Low international coal prices could help ease cost burden on cement manufacturers even though monthly dispatch numbers were not encouraging. PIOC and FCCL posted the best dispatch numbers. Top cap stocks witnessed buying interest today. ENGRO was up 3pc.
Our top picks include ENGRO, EFERT, DGKC, LUCK, HUBC, KAPCO, HBL, UBL, PPL, OGDC. Heavy battering of E&P stocks present opportunities. Crude oil was up 2.5pc
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