The market closed up today by 163pts, at one point skirting the 34000 level before retreating to 33848 at close. Cement and Oil and Gas Sectors were the mainstay of activity. Cement stocks led the way KOHC and ACPL gaining +4pc, with the other major scrips posting modest gains. OGDC and PPL put in gains of Rs. 2-4 today intitally but pulled back from their highs towards close. OGDC announced quarterly EPS of Rs.2.16 still managing to close positive for the day. A growing sense that oil may have finally seens bottom seems to be supporting oil companies. SNGP rose 4.7pc.
Maple Leaf Cement reported strong numbers EPS of 2.2, K Electric Rs.0.14 while FFC reported consolidated EPS of Rs0.6 closing in the red.
34000 remains a significant resistance level for the market.
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