Todays Market

The Market closed up 227pts ending another session well into positive territory to end at 32706. Turnover and value traded were stable at 152mln shares and Rs. 8.7bln. 100pts out of todays increase in the index came from HBL, UBL and MCB. Crude oil prices were more or less stable internationally. helping local oil stocks stay generally level, keeping pressure off the index. Banks have bounced back nicely from their January lows with HBL, UBL, MCB and NBP gaining 15, 9, 8 and 7.5pc this month. EFERT announced a full year EPS of Rs 11.13 along with a Rs 3 cash dividend in line with market expectations, bringing full year EPS to Rs 6. Active stocks for the day were EFERT, SEARL and TRG. SEARL, SSGC, SNGP and HINO moved the most today among actively traded stocks rising by 4-5pc. The market could experience volatility on the back of renewed regional market movements that could trigger outflows.