Today's session was overwhelmingly positive, with the market gaining 472pts to end at 49006. Turnover remained on the lower side at 235mln shares but value traded rose 33pc to Rs14.3bln. Hopes of easing of liquidity to the market helped sentiments. Further, the steel sector leapt back upwards propelling the index forward.
ISL, ASL, TRG, SNGP, SSGC, MTL, PRL, HCAR, EPCL, DSL, POWER closed at upper cap.
RPL closed down 5pc.
50000 remains a significant resistance level for the index. Going the forward participants will look to development on the liquidity front before building further positions. We advise caution as the market approaches 50000 as average volumes and value traded remain 25pc and 16pc lower than last week.
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