Weekly Review

The market ended the week up 517pts (1.2pc) to close at 39378. Friday saw history made at the exchange with the index crossing 40000 mark for the first time ever. Turnover avergaed 265mln shares while value traded was Rs11.4bln. Volume was up 17pc WoW while value traded was up 5pc. Friday saw the index stay well in the green zone through most of the day, losing its gains only toward the end on account of profit selling at the close of the week. The index has gained 378pts so far this month.

International Steel announced a Rs1.25 final payout for the year ended Jun 2016 with an EPS of Rs2.71. EFERT and MCB announced results during the week which were largely in line with expectations. With many major annoucements still to come the current rally could extend past the 40000 mark.

Banks and E&P's led the charge at the PSX this week. UBL was up 8pc while E&P's gained 3-6pc.

SITC, BERG and EFUG were the major gainers up 11-12pc. BUXL was up 27pc..

PMPK, HINOON and FML were major losers giving up 7-13pc.