Today's Market

The market continued north, gaining 470pts for the day, ending at a record breaking level of 45847. What's more, during the day the market managed to blow away the 46000 mark. The last 8 consecutive positive sessions have added over 3200pts to the index, making this the fastest rise this year. Oil Sector led the market, sent higher by positive crude movement as a consequence of OPEC and Non OPEC members collaborating to prospectively cut output. Value traded in OGDC was Rs 2.5bln. This is the highest value traded in the stock this year. SNGP announced better than expected EPS for 2016 and HUBCO gained on the back of Letter of Support Issuance for its 330MW coal power plant. Going forward we advise pause for some profit selling. Outflow for the day was USD22mln.