Bulls continued to dominate today’s market proceedings with a benchmark index gained of 147 points. The volumes of over 162mn suggest the investors are actively participating in the market. The investors are inclined towards investing in stocks which are likely to declare their earnings along with payouts. JSCL alone generate 19 per cent of the total volumes suggest punters are also actively participating in the market. Furthermore the majority of the investors are expecting a discount rate cut of 50bps can be considered as a reason behind the strong bullish momentum.
‘We still believe valuable stocks are still available in the market at a discount to their intrinsic worth which justifies the current bullish trend. We believe the current Bull Run may continue in the upcoming days back by possible discount rate cut and result season expectations,’ said Bilal Asif, Head of Research HMFS. The KSE 100 index closed at 1128.62 levels with the gain of 147.70 points, while KSE 30 index bagged 87.57 points to close at 11468.90 levels. All Share index closed at 8527.93 levels after gaining 101.58 points. Total 162 scrips advanced 92 declined and 85 remain unchanged out of total 340 scrips traded.
