The market opened strong on the back of a spike in crude oil prices overnight. For most of the day it remained well over 200pts plus, losing its gains after reports of the army chief sacking several army officers on charges of corruption, raising fears of a more hardline approach towards the panama leaks affair involving the ruling party. Turnover rose 24pc to 327mln shares while value traded rose 48pc to Rs. 15.3bln which is over a six month high. OGDC, PPL and POL accounted for a 100pt gain in the index today. The best performers were PPL and POL gaining over 4pc. The worst performers were JSCL, SNGP, and FFBL losing over 4pc.
OGDC saw over a six month peak in daily traded value.
Political factors could induce more volatility in the market
Shell announced a quarterly EPS of Rs.0.2, ICI announced quarterly EPS of Rs. 7.82 and FFBL announced a quarterly EPS of Rs 0.02.
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