The market continued its form gaining 637pts (1.23pc) to close at 52388. Turnover was robust at 352mln shares and value traded jumped 23pc to Rs23bln. MSCI EM inflows coupled with a Russo- Saudi plan to continue output cuts led PSX higher. Seven scrips accounted for 71pc of todays index tally. These were, OGDC, FFC, ENGRO, BAHL, PSO, MCB, and PPL.
Engro traded a significant Rs1.8bln in value, the highest this quarter, while, OGDC and EPCL traded Rs1.1bln each in value.
Movers among active stocks for the day were POL, OGDC and BAHL all closing at upper cap. UPFL, GHNI, GSKCH and WYETH led the decliner chart.
Outflow for the day was USD1.8mln.
While we remain positive regarding market prospects post MSCI formal inclusion, short term euphoria is likely to be qualified by immediate EPS growth prospects and the quantum of MSCI related inflows.
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