Oil sector advances again

The market was up 173pts today on lower volume and value traded down 10pc to 132mln shares and Rs. 7.6bln. Gains were led by E&P , oil marketing companies and refineries. OGDC, PPL, POL, PSO, SHEL were up by4, 4, 3.3, 4.5 and 5pc respectively. PRL and ATRL and NRL and BYCO were up by 3, 2 , 1.5pc and 3.3pc respectively. Value traded rose sharply in PSO and PPL compared to last week. International crude oil prices supported positive sentiment in oil stocks,

Fertilizers remained under pressure because of a decreasing differential between local and imported urea prices. with EFERT declining 1.75pc.

Foreign investors selling is likely keeping investor interest at bay.

GHNL, SEARL PAEL and AL Shaheer lost 4.5, 2.4, 1.1 and 1.5pc respectively