Today's Market

The market continued northward gaining 250pts for the day to close at 44741. Volume was 368mln shares down 20pc, while value traded was down 25pc at Rs. 15.8bln. The star of today's rally was LUCK which closed at upper cap after announcing a triple expansion. It declared a JV with KIA motors for a auto assembly in Pakistan, due diligence on Dewan Cement for possible acquisition as well as a ramping up of production at its overseas facility. UBL, MCB gained ground among banks, as did HUBC. We continue to expect market strength with consolidation.