The market shot up 580pts or 1.8pc with turnover crossing 200mln shares and value traded rising to Rs12bln, both the highest this year. Firm crude oil prices and further cuts in rigs in USA raised expectations of better oil prices, lifting sentiment.
Top turnover items for the day were JSCL, TRG, PTCL, PAEL.
Oil and Gas, Banks, cements and refineries posted gains in what was a well rounded rally. FFC rallied 3.5pc a particularly sustained spell of foreign outflow in the fertilizer sector. Engro Corporation notched a record Rs.2.2bln value traded. The index rose consecutively for a ninth straight session. TRG, SNGP, SSGC, PIBTL, BYCO, PRL, Al Shaheer and ACPL ended at upper cap.
We expect the market to remain firm, with some profit selling.
Search Market View