Following up on MSCI euphoria, the market closed up 1085pts (2.2pc) at 50936, brushing aside its highest close at 50192 on Jan 26, 2017. Volume was 326mln shares and value traded was Rs20.8bln. Top shares by activity were LUCK, OGDC, HBL and EPCL, all trading over a billion rupees. The index was powered on by Banks and big oil.
HBL, UBL, MCB and BAFL closed on upper cap while OGDC was up 4.2pc. The rally was limited to MSCI EM inclusion hopeful scrips, with the market betting on incoming foreign flows.
Todays inflow was USD3.3mln. We expect the market to keep up its form with further gains on the cards depending on foreign flows.
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